Exam 13: Judgement and Decision Making

According to prospect theory, people should overweigh the probability of which of the following?

Standard explanations of the conjunction fallacy assume it occurs because of the ____ perceived ____ of the additional information given the description

Oppenheimer's (2004) study involving assessment of name pairs (one famous, one non-famous), indicated what about the availability heuristic?

According to Riege and Teigen (2017), the "tendency to judge the probability of the whole set of outcomes to be less than the total probabilities of its parts" is called the:

Gigerenzer and Hoffrage (1995, 1999) argued that our experience of the world typically comes not in the form of probabilities, but in the form of:

What did Gigerenzer and Hoffrage (1999, p. 425) define as "the process of encountering instances in a population sequentially"?

The phenomenon describing how people overestimate the intensity and duration of their negative emotional reactions to loss is called:

Decision avoidance is accounted for in which model?

Base-rate information is what?

What aspect of risky decision-making was studied by Wang (1996)?

When steps were taken to ensure that participants fully understood the story, by making the category of a bank teller explicit, Tversky and Kahneman (1983) found that:

Framing effects are found when decisions are influenced by irrelevant aspects of the situation (e.g. when people focus on potential gains), according to which theory?

_____ are evaluated in terms of their accuracy; in contrast, the value of _____ is typically assessed in terms of the consequences of those decisions

According to prospect theory, people are typically much more sensitive to potential ______ than to potential ______.

What is the assumption that the frequencies of events can be estimated accurately by the accessibility in memory?

In Anderson's (2003) rational-emotional model, the omission and status quo biases were both explained in terms of:

The study by Samuelson and Zeckhauser (1988), about retirement funds, is a demonstration of what form of decision avoidance caused by emotional factors?

Which types of theories focus on how people should make decisions, rather than on how they actually make them?

Tverky and Kahneman argued most people given judgement tasks use:

When people judge the probability that an object or event (A) belongs to a class or process (B), they will often apply which heuristic?