Shared Flashcard Set

Details

Cognitive Psyc Ch9
pt 1 of review for exam 3 (ch9-12)
47
Psychology
Undergraduate 4
10/26/2011

Additional Psychology Flashcards

 


 

Cards

Term
4 things that a decision entails
Definition
goal, at least 2 ways to satisfy the goal, evaluation of options, selection of 1 option
Term
what are the decision tree ABC's?
Definition
Alternatives, Belief, Consequences
Term
_____ _____ Model says: all options are evaluated relative to one another through 3 steps.
Definition
Expected Utility Model
Term
Step 1 of Expected Utility Model
Definition
evaluate each option & multiply desirability of each outcome by the probability of it occurring.
Term
Step 2 of Expected Utility Model
Definition
create a summary evaluation of each alternative
Term
Step 3 of Expected Utility Model
Definition
choose the course of action with the highest expected utility.
Term
____ _____ is the desirability of a particular outcome, given the probability that the outcome will occur.
Definition
expected utility
Term
_____&_____ conducted behavior research that focused on gambling.
Definition
Kahneman & Tversky
Term
people are risk-averse when ____ is emphasized.
Definition
gain
Term
people are risk-seeking when ____ is emphasized
Definition
loss
Term
The Expected Utility Curve says that we tend to _____ lower probability items and _____ higher probability items.
Definition
overestimate; underestimate
Term
A < B < C so A < C
Definition
Principle of Transistivity
Term
If you like coffee flavored ice cream better than vanilla flavored ice cream, and you like vanilla flavored ice cream better than you like chocolate flavored ice cream, then you must like coffee flavored ice cream better than chocolate flavored ice cream. This is explained by ____ _ ____.
Definition
Principle of Transistivity
Term
the same amount of loss hurts ___ than the same amount of gain brings joy
Definition
more
Term
___ ____ says 2 ways of asking the same question should produce the same answer.
Definition
Procedural Invariance
Term
____ ____ explains how the wording of the problem influences how the choice is made.
Definition
Framing Effects
Term
when you pick based on payoff, you're making an ____ gamble.
Definition
adjacent
Term
when you pick based on probability, you're making an ____ gamble.
Definition
extreme
Term
In real life, your choices are based on expected utility values only when ____.
Definition
probabilities are very different
Term
____ ____ says we choose certainty over ambiguity even when the result is an inconsistent pattern of choices.
Definition
Ellsberg Paradox
Term
____ ____ says adding an identical event to each alternative has the effect of changing the preference of a decision maker
Definition
Allais Paradox
Term
____ ____ says revised preferences between identical outcomes depending on time.
Definition
Dynamic Inconsistency
Term
"Would you rather get $5 today or $10 in two weeks?" Your answer to this question could be explained by _____ _____
Definition
Dynamic Inconsistency
Term
When talking about Dynamic Inconsistency... if you opt for immediate gratification _____ is generating this response.
Definition
emotion
Term
When talking about Dynamic Inconsistency... opting for delayed gratification is a decision based on ____.
Definition
rationality
Term
4 areas of the brain involved with immediate rewards
Definition
ventral striatum, medial orbitofrontal cortex, medial prefrontal cortex, posterior cingulate
Term
4 areas of the brain involved in picking between rewards
Definition
right dorsolateral prefrontal cortex, right ventrolateral prefrontal cortex, right lateral orbitofrontal cortex, intraparietal cortex
Term
the expected utility model is concerned with _____ decision making.
Definition
rational
Term
rationality depends on ___, __ ___, and ___ ____ ___.
Definition
attention, working memory, executive control processes
Term
___ ___ says we are as rational as we can be, given cognitive limitations on the amount of info we can process.
Definition
bounded rationality
Term
____ is when you pick the option that is "good enough" to meet the goal but not necessarily the best of ALL possibilities.
Definition
Satisficing
Term
____ __ ___ = most important attribute -> second most important attribute (evaluate, reject, select...evaluate, reject, attribute)
Definition
elimination by aspects
Term
____ are simple and efficient rules of thumb that work well in most circumstances; prone to bias and error; don't require a lot of effort
Definition
heuristics
Term
____ heuristic = making judgments about the frequency or likelihood of an event based on how easily instances come to mind; we give importance to things that are easiest to recall; factors at work include personal relevance, recency in memory, vividness and media.
Definition
Availability
Term
_____ heuristic = judge probability of an event based on how it matches a prototype; important in social settings; can lead to errors
Definition
representativeness
Term
Gambler's Fallacy is a ______ heuristic
Definition
representativeness
Term
_______ heuristic = people are influenced by an initial anchor value, however the anchor value may be unreliable, irrelevant, and adjustment if often insufficient.
Definition
anchoring-and-adjustment
Term
______ heuristic = which prediction would be more accurate?
a)predicting a boy's height from his father's height
b)predicting a father's height from a son's height
confidence in a conclusion is higher is you can construct a causal scenario that leads from one to the other.
Definition
simulation
Term
____ heuristic explains why people like reasons for behavior
Definition
simulation
Term
____ heuristic explains how in a trial by jury, guilt or innocence often rests on the juror's ease of constructing a coherent story from evidence
Definition
simulation
Term
when talking about judgment heuristics, calculations and frequency estimates happen in which area of the brain?
Definition
frontal lobes
Term
when talking about judgement heuristics, which area of the brain is involved in approximate estimates?
Definition
parietal lobes
Term
"would you pay $3.75 for a gallon of gas?" and "how much would you be willing to pay for a gallon of gas?" are two ways of asking the same question about preferences. this is an example of ____ ____
Definition
procedural invariance
Term
When people win the lottery and choose to get all the cash now rather than receive payments over a span of time, this is an example of ______ ______ _____.
Definition
dynamic inconsistency principle
Term
You have $1000 to invest and choose to put it into a new technology company that you think is going to make it big. You are displaying ___ ____ behavior.
Definition
risk-seeking
Term
A ____ is based on the value of each option to an individual and the likely outcome of each option.
Definition
decision
Term
According to the ___ ___ model, the expected utility is equal to the sum of the probability times the utility of each possible outcome.
Definition
expected utility
Supporting users have an ad free experience!