Explain the theory proposed by Kahneman and Tversky
People often are irrational
Neuroeconomics - why people make the decisions they do
What were the results of Evan (2002) study on Syllogisms?
Even though syllogisms 1 and 2 AND 3 and 4 are logically equivalent, people respond to them differently (1 and 3 were more believable)
The tendency to rate more believable conclusions are more valid is called belief bias, it decreases with unlimited time to consider scenarios.
What are mental models? (Johnson-Laird (1983)
People construct mental simulations of the world in their minds based on syllogisms.
According to Evans (1993), how do people perform when evaluating different conditional syllogisms, and which forms are valid or invalid?
Evans (1993) found that people perform much better on valid conditional inferences than on invalid ones.
Modus Ponens (affirm antecedent) → Valid, ~97% correct
Modus Tollens (deny consequent) → Valid, ~60% correct
Affirming the Consequent → Invalid, ~40% correct
Denying the Antecedent → Invalid, ~40% correct
Overall, people show near-perfect performance for Modus Ponens, reduced performance for Modus Tollens, and poor performance on invalid syllogisms, showing a bias toward affirming information rather than rejecting invalid conclusions.
What were the results of Watson’s (1968) experiment where participants were presented with 4 cards.
Most people correctly turned over the E card
Only 4% of people correctly chose 7
Little less than 1/2 incorrectly choose 4
What were the results of Greggs & Cox (1982) experiment where they examined watson’s paradigm with concrete topics?
73% of people correctly selected beer (real world performance is better because the brain isn’t a logical machine)
What was Quine’s (1960) theory with the balloon dog?
Learning the meaning of words requires some inductive leaps
One-shot learning: learning a concept from a singular example
What theory did El-Gamal and Grether (1995) Propose?
Human decision-making processes are optimal from a bayesian standpoint, although we make errors
What theory did Kahneman (2017) propose about the two different types of reasoning systems under different conditions?
Fast - heuristics based
Slow - logical analysis
What were the results of Lichtenstein’s (1978) experiment where participants were presented with pairs of potential causes of death
People rated tornado-related deaths as 5x more prevalent, even though asthma actually kills 20x more people.
Decisions were based on 2 factors:
1. Personal Proximity to the cause of death
2. Media representation
What were the results of Tversky and Kahneman (1974) experiment where participants watched roulette that was fixed to land on a low or high number and asked to make an unrelated and unfamiliar estimate?
High number on roulette - reported a higher number of countries
low number on roulette - reported a lower number of countries
What theory was proposed by Eroglu (2010)
Anchoring is logical since decisions are usually made under social conditions. Those high on agreeableness are more susceptible to anchoring effects.
What were the results of Ross et al. (1975) experiment where they presented participants with suicide notes (50/50 real and fake) and asked them to determine which were real. Participants were then given fake feedback about how they did.
Those that were told that they did well now reported being better than average, whereas those that were told they didn’t do well now reported being worse than average.
What were the results of Kahan et al. (2007) experiment where they asked participants to assess a scientific consensus?
Beliefs about scientific consensus remained consistent with worldviews. Led researchers to believe that information alone is not sufficient to change beliefs on highly emotional issues. It may even entrench individuals into their beliefs more.
What were the results of Nyhhan and Reifler (2010) experiment where they asked participants if they believed the information in the article they read.
Those who read a misleading article followed by a factual correction believed the article more compared to those who didn’t receive the correction.
What were the results of Sharot’s (2010) experiment where they assessed people’s predictions about what kinds of events will happen to them in their future.
People overestimate the number of positive events that will happen to them
(Wise et al.) - Optimism Bias (Americans were less likely to predict being infected by COVID 19)
What were the results of Knetsch (1989) experiment where they divided participants into three groups, and gave them either a coffee mug, a fancy chocolate bar, or nothing.
Humans place a higher value on objects they already own - endowment effect
What were the results of Lerner et al. (2004) experiment looking at what would happen to individual’s buying and selling behaviours under different emotional states.
Participants watched 1 of 3 films: either disgust, sadness or neutral.
Neutral - base
disgust - less likely to buy or sell
sad - more likely to buy or sell
Explain the Stanford Marshmallow Experiment
Children were presented with a choice, 1 marshmallow now, or two later.
Children’s ability to delay gratification predicted lower levels of aggression, higher cognitive and academic performance and lower levels of peer rejection 20 years later.
Higher activation in PRC 40 years later.
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Chapter One Vocab8
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Chapter Two Vocab38
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Chapter 2 - Studies7
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Chapter Three Vocab66
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Chapter 3 - Studies7
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Chapter Four Vocab69
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Chapter 4 - Studies12
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Chapter Five Vocab32
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Chapter 5 - Studies19
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Chapter Six Vocab23
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Chapter 6 - Studies14
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Chapter Seven Vocab29
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Chapter 7 - Studies13
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Chapter Eight Vocab24
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Chapter 8 - Studies16
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Chapter Nine Vocab28
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Chapter 9 - Studies17
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Chapter Ten Vocab30
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Chapter Eleven Vocab36
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Chapter Twelve Vocab24
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Chapter 12 - Studies12
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Chapter Thirteen Vocab40
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Chapter 13 - Studies19
