PSYB10H3 Lecture 3: PSYB10-notes
Document Summary
Psyb10 lecture 3 - heuristics and biases. Decisions are easier when we can predict the future. We can best predict the future by making sound inferences. When we are designing better ways to make judgments and decisions, we have to understand which errors people typically make. Distributing a form, the employees make a decision whether you want to sign up for this program or not. Can make a big difference around people. Mental short-cut that you use for making judgments. Gives sensible results, but it can give you systematic errors too. Availability: we are more likely to overestimate the likelihood, frequency, and causal impact of things that: Have come to mind frequently or recently. Purchasing insurance: suppose you are planning to fly to london next week. You are offered a flight insurance policy that will provide ,000 worth of life insurance in case of your death due to: Reasons for decreasing # of customers: e. g.
