Exam 10: Snap Judgments:risks and Benefits of Heuristic Thinking

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Which of the following is probably an expression of the influence of the Power Differential Heuristic?

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C

Heuristic thinking is the tendency, which is at times quite useful, of relying on highly efficient and generally reliable ________.

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Critical thinking is self-regulated System-1 thinking.

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What possible error in judgment can come about by the misapplication of the Elimination by Aspect Heuristic?

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What is the definition of System-1 Thinking?

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The________ heuristic is the tendency simplifying decisions by treating remote probabilities as if they were not even possibilities.

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The tendency to reactively accept without question an opinion expressed by a superior authority is called the ________ heuristic.

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What possible error in judgment can come about by the misapplication of the Association Heuristic?

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What possible error in judgment can come about by the misapplication of the Satisficing Heuristic?

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Describe the risks and benefits of the natural human tendency to be risk or loss averse.

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Which of these dichotomies best characterizes the relationship between System-1 and System-2 thinking?

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What is the definition of System-2 Thinking?

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Which of the following statements is true of the System-1 decision making?

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Because it is considered more useful for addressing novel and complex problems in a reflective and methodical way, System-2 is the mode of reasoned, informed, and thoughtful problem solving and decision making that a broad undergraduate liberal arts and sciences education cultivates.

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Which of the following is probably an expression of the influence of the Representation Heuristic?

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On a chilly winter day Michael was walking by a kiosk that sold vacation packages to the Bahamas. There were pictures of sunny skies and beautiful beaches. He imagined himself on those warm and inviting beaches. The next thing he knew, he had purchased a five-night cruise ticket to Bahamas for a mid-winter getaway. Which of the following heuristics triggered Michael's decision to buy the ticket?

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Define the term heuristic thinking.

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Which of the following is probably an expression of the influence of the Anchoring with Adjustment?

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Which of the following is a characteristic of System-1 thinking?

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Describe the representation heuristic.

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