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13 Cards in this Set

  • Front
  • Back
Normative Model
Describes what people should do
-provides standard for comparing how closely actual decisions match normative decisions
Descriptive Model
Describes what people actually do
Compensatory Model
Strategy that allows positive attributes to compensate for negative ones
-Additive Model-adds attribute values to assign a score to each alternative(pros & cons)
-Additive-Difference Model-compares 2 alternatives by adding the difference in their values for each attirubte
Noncompensatory Model
Strategy that rejects alternatives that have negative attributes without considering their positive attributes
-elimination by aspects
-satisficing search
Strategy that follows the conjunctive model and therefore selects the 1st alternative that satisfies the minimum criterion for each attribute
Availability Strategy
Used to help assess probability of an event
-Estimating probability by the ease with which examples can be recalled
-the more readily instances of event come to mind, the higer the judged probability of the event
Effected By:
1)Frequency-more frequent you encounter, more likely it is
2)Emotional Salience
Representativeness Strategy
Extent to which an event is typical or a larger class of events
-heuristic to make probability judgments
-Degree to which A is representative of B, & A resembles B
-Used to help predict future events
--Involves comparing a new situation to some unknown situation
Problems with Representativeness Strategy
-Decisions ignore other relevant info (sample size)
-Ignoring probabilities entirely, by basing decision only on similarity between instance and a concept
-misleading when its based on trivial or irrelevant similarities
Expected Value
The average value, as determined by combining the value of events with their probability of occurence
-Standard of reference to compare how well people make decisions
-Multiply value of each possible outcome by its probability & add products
Expectation Models
Model of decision that assumes that a person should behave in a rational way
-Should calculate expected value-but not all people behave this way
Subjective value as determined by decision maker
-What the outcome is worth to individual
Subjective Probability
Estimated probability as determined by the decision maker
-what they think the actual probabilities are
Recognition Primed Decision
Decision that quickly made following recognition of a situation
-once problem is recognized, experienced decision
-makers can usually identify an acceptable course of action as the 1st 1 they consider, rather than having to consider multiple options