[01:830:305] - Midterm Exam Guide - Comprehensive Notes for the exam (19 pages long!)

85 views19 pages
7 Feb 2017
Department
Professor

For unlimited access to Study Guides, a Grade+ subscription is required.

Rutgers
01:830:305
MIDTERM EXAM
STUDY GUIDE
Unlock document

This preview shows pages 1-3 of the document.
Unlock all 19 pages and 3 million more documents.

Already have an account? Log in
Unlock document

This preview shows pages 1-3 of the document.
Unlock all 19 pages and 3 million more documents.

Already have an account? Log in
Cognition
Decision Making Part II
A. Utility
a. Outcomes that are desirable because they are in the person’s best interest
a. Expected Utility Theory
i. Assumes people are basically rational
1. But in reality, people are not
2. Use all relevant and available information
ii. Studied first in economics, monetary pay off over time
b. Advantage
i. Procedures exist to calculate best, rational answer
c. Problems
i. People don’t necessarily maximize
1. Money
2. Probability
ii. Choose safer route
B. Emotions
a. Current emotions
b. Expected emotions
i. What people predict they feel
ii. Very bad judgment/at predicting
c. Incidental emotions
i. Emotions not related to decision at hand
ii. Personality environment, recent experience, etc
iii. But still influence decision making
C. Risk Aversion
a. Tendency to avoid taking risks
i. Even if risky choice has high utility
b. More likely to take safe, sure choice
c. When decision is framed in terms of gains
d. Risk taking
i. When decision is framed in terms of losses
D. Framing
a. What affects decisions
b. How choices are presented
i. Opt-in vs opt-out
1. People are more likely to stay in current situation that may change the
status quo
c. Wording
i. Both choice may have same utility
1. Choices were same, just worded differently
ii. People only see one set of chouces
find more resources at oneclass.com
find more resources at oneclass.com
Unlock document

This preview shows pages 1-3 of the document.
Unlock all 19 pages and 3 million more documents.

Already have an account? Log in
1. More people choose the sure choice when stated “live” but choose risky
choice when stated as “die”
E. Deductive Reasoning
a. Premise
i. Statement of givens in deductive logic
b. Reasoning
i. Determine whether a conclusion follows logically from premises
c. Syllogism
i. 2 or statements
ii. Have a premise and a conclusion
iii. Conditional
1. Has for of “if…then”
2. Hard to determine if its valid or not
iv. Categorical
1. Describe relation between categories
2. “All” “no” or “same”
v. Syllogism is valid if conclusion follows logically from premises
1. Can be not true
vi. If two premises are true, conclusion must be true
1. Can be invalid
d. Categorical syllogism
i. All smart students live on Busch
ii. All Busch students take classes with Professor Aitkin
1. Therefore, all smart students take classes with Professor Aitkin
2. VALID but NOT TRUE
iii. All Rutgers Students live in NJ
iv. Some people in NJ are homeless
1. Some RU students are homeless
2. INVALID, maybe TRUE
e. Conditional syllogism
i. If Mary is a Busch resident, then she is an engineering major
ii. Mary is a Busch resident
1. Mary is an engineering major
2. VALID CONCLUSION
iii. If John is a CAC resident, then he is a biology major
iv. John is a biology major
1. John is a CAC resident
2. INVALID CONCLUSION
F. Validity
a. Comes from rules of logic
i. Doing well requires training
b. Belief bias
i. Tendency to think a syllogism is valid of conclusions are believable
c. Mental model
find more resources at oneclass.com
find more resources at oneclass.com
Unlock document

This preview shows pages 1-3 of the document.
Unlock all 19 pages and 3 million more documents.

Already have an account? Log in

Get access

Grade+
$10 USD/m
Billed $120 USD annually
Homework Help
Class Notes
Textbook Notes
40 Verified Answers
Study Guides
1 Booster Class