Cognitive Psychology Finals

A calculation based on individual's judged weighting of value rather than objective

• Subjective Utility

• Subjective Probability

• Subjective Perceptions

• Subjective Decision-making

A mental shortcut used to consider options one by one then pick as soon as one is good enough

• Elimination by aspects

• Satisficing

• Representativeness

• Anchoring

a mental shortcut where people make judgements based on how easily we can call to mind what we perceive as relevant instances of phenomenon. e.g. finding words with "n" as the second to last letter vs finding words ending with "ing"

• Elimination by Aspects

• Satisficing

• Availability Heuristic

• Anchoring and Adjustment Heuristic

A cognitive bias where we look at situations retrospectively and we believe we easily can see all the signs and events leading up to a particular outcome

• Illusory Correlation Bias

• Over-confidence Bias

• Hindsight Bias

• Confirmation Bias

A mistaken belief that the probability of given random event is influenced by previous random events

• Gambler's fallacy

• Hot Hand Fallacy

• Conjunction Fallacy

• Sunk-Cost Fallacy

Opposite of gambler's fallacy, the belief that certain course of events will continue

• Hot-hand

• Straw man

• Slippery slope

• Bandwagon

This is characterized by premature decision making as result of group members trying to avoid conflict

• Groupthink

• Group effort

• Group work

• Group process

An over evaluation of one's own skills, knowledge, and judgement

• Illusory Correlation Bias

• Over-confidence Bias

• Hindsight Bias

• Anchoring bias

the capacity to recognize relationships, draw conclusions from evidence, and make critical evaluations of events and people.

• Judgment

• Learning

• Conditioning

• Applying

This pertains to erroneous reasoning in judgment and reasoning.

• Fallacy

• Inaccuracy

• Invalid

• Bias