A short cut for making judgements, effortless and rapid - often produce the right answer but sometimes lead to biases
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Intuition Vs Logic (Kahneman & Tversky)
2 systems: (1) uses heuristics to quickly produce an intuitive answer (2) Requires time and working memory to slowly work out a logical answer
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Heuristics and biases
Representativness, availiability, anchoring
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The Linda problem
Most people think she is more likely to be a bank teller and a feminist than a bank teller
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Conjunction fallacy
The conjunction fallacy is a formal fallacy that occurs when it is assumed that specific conditions are more probable than a single general one
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Representative heuristic
People judge whether someone or something belongs to a category by thinking about how similar they are to a stereotypical member of that catergory
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Avaliability heuistic (links to conjunction fallacy)
s a mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method or decision.
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Anchoring and Adjustment
Inital question acts as an anchor so you adjust an answer respective to the anchor
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Taxi cab problem
People often ignore base rate information - Bayes Theroem compensates for this
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Recongition heuristic
Exploits the fast and efficent capacity of recongition for maing inferences in the world
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Other cards in this set
Card 2
Front
Intuition Vs Logic (Kahneman & Tversky)
Back
2 systems: (1) uses heuristics to quickly produce an intuitive answer (2) Requires time and working memory to slowly work out a logical answer
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