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10 Cards in this Set

  • Front
  • Back

System 1

Fast and effortless

Expansive thinking

Jumps to conclusions

System 2

Slow and conscious

Handle logic and reductive reasoning

Requires time and fatigue

Bounded Awareness

Leads people to ignore info

Availability Heuristic

We go with what is easiest for us to remember and is avalible

Confirmation Heuristic

Irrelevant anchors affect our decision, go with info that confirms our thoughts

Hindsight Bias

We are not good at recalling uncertain situations


Illusion of control

Higher motivation

Self Fulfilling Prophecies

People try harder in situations w poor probabilities of success

Status Enhancement Theory

Rewards overconfidence with status

Escalation of Commitment

Caused by self justification, confirmation bias and loss aversion