PSYCH 101 Lecture Notes - Lecture 27: Egocentric Bias, Availability Heuristic, Institute For Operations Research And The Management Sciences
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Egocentric bias: people overrate the proportion of the total work that they have contributed to a project, ex: in a group project, you need to work on it together. You think that you did more work than everyone else: ross & sicoly (1979): participants were 37 married couples. If husband and wife have accurate perceptions of responsibility, the sum of their ratings should equal the length of the line. Representativeness: which of the following sequences is more likely, a: bgbgbg, b: bbbggg, c: gbbggb. Seems like an engineer, but based on the probability you should have guessed lawyer. It"s a hot summer day and you get a glass of water: you pour water in: half full, your friend filled a glass for you and you drink it: half empty. People are typically risk averse for gains and risk seeking for losses. If you feel that you are in a gain position, you are less likely to take a chance.
