PSY222 CH10

Which stage of decision-making involves perception, recognition, and integration of external stimuli?

• Hypothesis evaluation

• Cue reception

• Action generation

• Goal setting

What is a major limitation of descriptive decision models?

• They always lead to correct outcomes

• They use algorithmic precision

• They often violate normative decision rules

• They require complete data to function

Which heuristic relies on constructing a mental model of an event to predict possible outcomes?

• Representativeness

• Simulation

• Availability

• Anchoring

Which of the following best defines satisficing heuristic?

• Choosing based on random selection

• Selecting the first option that meets requirements

• Exhaustive comparison of all alternatives

• Using only expert judgment to decide

Which factor is LEAST likely to affect decision-making performance?

• Cue salience

• Long-term memory storage

• Visibility constraints

• Number of Facebook friends

Representativeness heuristic often leads individuals to:

• Underestimate their own memory limitations

• Rely solely on vivid examples

• Ignore base-rate probabilities

• Assume randomness in structured outcomes

Recognition heuristic assumes that people will choose the option that:

• Is less familiar but more statistically accurate

• Is associated with uncertainty

• They recognize more easily

• Others have recommended

What does the sunk cost effect demonstrate in decision-making?

• People ignore sunk investments

• People rely solely on future gains

• Prior investments unduly influence current decisions

• Past failures increase risk-taking

Which heuristic may cause a person to overestimate how many shark attacks occur each year?

• Representativeness

• Anchoring

• Availability

• Framing

"If only I had studied harder" is an example of:

• Simulation heuristic

• Illusory correlation

• Anchoring bias

• Recognition heuristic