Cognitive Biases and Decision-Making

The video explores why intelligent individuals sometimes make poor decisions, focusing on cognition, concepts, and prototypes. It discusses problem-solving strategies like algorithms and heuristics, and highlights cognitive biases such as confirmation bias and belief perseverance. The video also examines how heuristics can influence decision-making and risk perception. It concludes with a summary of key points and credits.

What is one reason why smart individuals might make poor decisions?

• They never use intuition.

• They lack access to information.

• Their cognition is always logical.

• They are prone to irrational thinking.

How do concepts help us in daily life?

• They create confusion.

• They simplify our thinking.

• They slow down decision-making.

• They make us forgetful.

What is a prototype in the context of cognition?

• A detailed plan for a project.

• A mental image of a typical example.

• A new invention.

• A type of computer program.

Which problem-solving strategy involves trying different solutions until one works?

• Insight

• Heuristics

• Algorithms

• Trial and error

What is the main advantage of using heuristics?

• They require no thinking.

• They are faster than algorithms.

• They are always accurate.

• They guarantee a solution.

What is confirmation bias?

• The tendency to seek out information that contradicts our beliefs.

• The tendency to ignore all information.

• The tendency to favor information that supports our beliefs.

• The tendency to change beliefs frequently.

What is functional fixedness?

• The ability to solve problems creatively.

• The inability to see new uses for familiar objects.

• The tendency to use tools incorrectly.

• The habit of fixing broken items.

How does the availability heuristic affect our judgment?

• It prevents us from making any judgments.

• It helps us remember all events equally.

• It makes us overestimate the likelihood of events based on vivid memories.

• It makes us underestimate the likelihood of events.

What is an example of framing in decision-making?

• Presenting risks as percentages versus absolute numbers.

• Using only positive information.

• Making decisions without any information.

• Ignoring all risks involved.

What can help us improve our decision-making despite cognitive biases?

• Ignoring all information.

• Being mindful of our errors.

• Relying solely on intuition.

• Avoiding all decisions.