Cognitive Biases

Using heuristics leads to _________________ ______________.

• Normative models

• Independent sysytems

• Cognitive Biases

• Descriptive models

______________ _______________ differentiated between 2 independent systems, system 1 and system 2.

• Huber, Payne, and Puto

• Daniel Kahneman

• Amos Tversky

• Wason

______________ _________ is the tendency to seek out information that confirms pre-existing beliefs.

• Framing Effect

• Confirmation Bias

• Selective Attention

• Congruence Bias

An _______________ _____________ is a belief that 2 phenomena are connected when in fact they are not.

• Illusory Correlation

• Confirmation Bias

• Congruence Bias

• Framing Effect

​ ​ (a)   involves a person seeking out information and emphasizing information that supports their preconceived ideas, while ​ (b)   involves outright rejecting information that disproves one's preconceived ideas​

• Confirmation Bias

• Belief Perseverance

• Self-Serving Bias

• Experimenter Bias

​ (a)   is when a person searches for information that confirms one’s preconception while ignoring evidence that contradicts it

• Confirmation bias

• Observer bias

• Hindsight bias

• Attribution bias

When a person evaluates themselves in an overly favorable manner they are falling victim to a ​ (a)  

• self-serving bias

• confirmation bias

• Flynn effect

• functional bias

After a highly publicized airplane crash, Aiden noticed that his friends were hesitant to book flights for their vacation, believing that such disasters were more common than they actually are. In this situation, Aiden's friends' decisions are being influenced by (a)   .

• Belief bias

• The availability heuristic

• The representativeness heuristic

• Functional fixedness

Advertisers know that a thirty-three percent discount sounds like a better deal than a discount of one third.  This best illustrates:

• framing.

• belief bias.

• representativeness heuristics.

• confirmation bias.

Which of the following is an example of a cognitive bias affecting decision-making?

• Using statistical analysis to make a decision.

• Relying on a gut feeling despite evidence to the contrary.

• Making a decision based on a comprehensive review of all available data.

• Consulting experts before making a decision.