Decision Making in Cognitive Psychology Review Practice

The tendency to judge the likelihood of an event based on how easily examples come to mind is known as

• Anchoring bias

• Availability heuristic

• Representativeness heuristic

• Confirmation bias

The phenomenon where people rely too heavily on an initial piece of information when making decisions is called

• Framing effect

• Sunk cost fallacy

• Anchoring bias

• Hindsight bias

The tendency to perceive a pattern or relationship where none exists is known as

• Representativeness heuristic

• Overconfidence

• Belief perseverance bias

• Illusory correlation

The tendency to interpret information differently based on how it is presented or framed is called

• Availability heuristic

• Anchoring bias

• Framing effect

• Sunk cost fallacy

The tendency to continue investing in a losing endeavor due to resources already invested is known as

• Belief perseverance bias

• Sunk cost fallacy

• Confirmation bias

• Illusory correlation

The tendency to view past events as more predictable than they actually were is known as

• Anchoring bias

• Hindsight bias

• Overconfidence

• Framing effect

The tendency to seek out information that confirms one's existing beliefs is called

• Availability heuristic

• Representativeness heuristic

• Confirmation bias

• Illusory correlation

The tendency to cling to beliefs despite contradictory evidence is known as

• Belief perseverance bias

• Sunk cost fallacy

• Anchoring bias

• Overconfidence

The tendency to judge the probability of an event based on how similar it is to a mental prototype is known as

• Representativeness heuristic

• Availability heuristic

• Framing effect

• Anchoring bias

The tendency to overestimate one's abilities, knowledge, or chances of success is known as

• Overconfidence

• Hindsight bias

• Illusory correlation

• Confirmation bias