PNB 3RM3 Chapter Notes - Chapter 4: Prospect Theory

• School: McMaster University
• Department: Psychology, Neuroscience & Behaviour
• Course: PNB 3RM3
• Professor: Ali Hashemi

Document Summary

The variety of theories in psychology formality: the extent to which the components of the theory and the relationships among them are specific clearly and in detail ex"s of formal theories in psychology: act-r, prospect theory, rescorla-wagner model. Informal theories: tend to be easier to create and understand but less precise in their predictions which can make them more difficult to test. The number and diversity of the phenomena a theory explains or interprets. Many early psychological theories were extremely broad in that they attempted to interpret all human behavior: such theories have fallen out of favor in scientific psychology because they tend to be imprecise and difficult to test. Contemporary theories in psychology still vary in their scope. Both broad and narrow theories have their place in psychological research. Broad theories: organize more phenomena but tend to be less formal and less precise in their predictions.