AD Psych Thinking and Decision Making

What is the definition of a heuristic?

• A simple and efficient rule that guides decision-making

• A complex and time-consuming approach to problem-solving

• A random and unpredictable strategy for making decisions

• A method to solve problems that is always accurate

What is an example of a cognitive bias?

• All of the choices

• Peak-end Rule: Kahnemann et al (1993) Cold water, couples therapy

• Availability Bias: the news, hollywood

• Anchoring Bias: bargaining, Courtroom

What are the factors that impede rational thinking?

• too much information

• One task at a time

• being in a bad mood

• time pressure

What does System 2 positively correlate with?

• exposure to complex calculus skills

• too many mistakes

• need for love and support

• intelligence

How do we study thinking and decision making?

• Observational Studies

• Both Verbal Protocol and Experiments on Behavior

• Experiments on Behavior: Iowa Card Game

• Verbal Protocol

What is bounded rationality?

• The ability of people to always make rational decisions

• The concept of unlimited rational thinking

• The inability of people to always make rational decisions due to various limits on rationality

• The process of making decisions without any constraints

What activates System 2 according to some research?

• Being in a good mood

• Reading a difficult-to-read font

• Facial expressions inducing disfluency

• Estimating the percentage of students studying each major

What is the Dual Process Model proposed by Stanovich and West (2000)?

• A model that focuses on emotional decision making only

• A model with two systems for decision making: System 1 and System 2

• A model with three systems for decision making

• A model with only one system for decision making

When describing system 1 which of the following cannot be included?

• Intiutive

• Fast

• Slow

• Used for survival

True or False? It is always beneficial to use system 2 thinking.

• True

• False