[PSYC 3260] - Final Exam Guide - Ultimate 88 pages long Study Guide!
29 Mar 2017
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Lecture focuses on judgment and decision making. Seminal work by kahneman & tversky (k&t); see kahneman (2011) thinking fast & slow for more detail. Lecture will review tasks in which people try to behave rationally. Kahneman & tversky showed that people make systematic errors on certain tasks. Errors can be explained in terms of the psychological processes mediating these tasks. Resemblance or representativeness heuristic is not unreasonable, but it leads to predictable errors by participants. E. g. , it ignores base rate information, that is, the fact that many more people are farmers than librarians. Base rate = relative frequency of different members of a group. K&t argued that participants typically ignore base-rate information and make judgements on the basis of representativeness. System 1 operates automatically and quickly with little or no effort and no sense of voluntary control. System 2 allocates attention to effortful mental activities.
