MKTG 322 Lecture Notes - Lecture 2: Risk-Seeking, Sunk Costs, Utility
27 Mar 2017
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March 22, 2017: availability heuristic basing judgements on events that are easier to recall. Ignoring base rate information: heave tv watchers tend to overestimate amount of violent crime in society. Think small group of people you know is enough to make a valid judgement. Ex) know more people who have been in tornados than who have been struck by lightning. 12 becomes difficult to come up with, get annoyed, use the difficulty in the feelings as your evaluation. Question 8: more think she is also active in the feminist movement, associate feminist movement with her other concerns. Representativeness heuristic making a judgement by simply comparing a stimulus with the category prototype or exemplar. Rate on several dimensions, only difference of laptop is where it comes from. Rated 7. 09 from japan and 3. 65 from taiwan: associate japan with higher quality brands. Fairly reliable mental shortcuts to reduce the amount of work involved: over applied, leading to biases in decisions.
