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10 Cards in this Set
- Front
- Back
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System 1 |
Fast and effortless Expansive thinking Jumps to conclusions |
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System 2 |
Slow and conscious Handle logic and reductive reasoning Requires time and fatigue |
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Bounded Awareness |
Leads people to ignore info |
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Availability Heuristic |
We go with what is easiest for us to remember and is avalible |
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Confirmation Heuristic |
Irrelevant anchors affect our decision, go with info that confirms our thoughts |
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Hindsight Bias |
We are not good at recalling uncertain situations |
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Overconfidence |
Illusion of control Higher motivation |
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Self Fulfilling Prophecies |
People try harder in situations w poor probabilities of success |
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Status Enhancement Theory |
Rewards overconfidence with status |
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Escalation of Commitment |
Caused by self justification, confirmation bias and loss aversion |
