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9 Cards in this Set

  • Front
  • Back

Availability heuristic

A mental shortcut strategy for judging the likelihood of an event or situation occurring based on how easily we can think of similar or relevant instances

Representativeness heuristic

A mental shortcut strategy for determining the likelihood of an event by how much it resembles what we consider to be a “typical” example of that event

Better-than-average effect

The tendency to overestimate our skills, abilities, and performance when comparing ourselves to others

Overconfidence phenomenon

The tendency to be overly confident in the correctness of our own judgements

Hindsight bias

A sense that we “knew it all along” after we learn the actual outcome

Confirmation bias

A bias in which we only look for evidence that confirms what we already believe, thereby strengthening the original belief

Focusing effect

A bias in which we emphasize some pieces of information while undervaluing other pieces

Introspection

Reflecting on our own thoughts and experiences to find relevant evidence

“What you see is all there is” phenomenon

A failure to see the limitations of our immediate experience, making it difficult to predict alternative outcomes