Category: Science
Created by: tim.zhaotianqi
Number of Blossarys: 40
English (EN) A decision-making strategy that is governed by the idea of taking risks. Often used when a problem is stated in terms of losses.
A decision-making strategy that is governed by the idea of avoiding risks. Often used when a problem is stated in terms of gains.
Based on the assumption that people are basically rational, so if they have all of the relevant information, they will make a decision that results in the maximum expected utility (outcome that ...
Tendency to selectively look for information that might confirm your belief and overlook information that disconfirms it Wason (1960) study • Subjects shown a set of three numbers that were ...
Mistaken belief that the probability of a random event in the short run will match its probability in the long run.
The larger the sample size, the more representative a sample will be of the population from which it was chosen Eg: larger hospital: 45 babies are born each day; smaller hospital, 15 babies. Over a ...
Judging the probability that something belongs to a category based on how well it represents or matches that category. • Based on similarity and prototypicality • Judgment fails to consider base ...
