HEURISTICS & BIASES (B)
3 important questions on HEURISTICS & BIASES (B)
Representativeness: The tendency to judge an event as likely if it “represents” the typical features of its category. (individual is similar to the prototype)
• Useful: Typical features often the most frequent ones
• Misleading as it does not account for:
– prior odds
• Insensitivity to Base Rates
• Conjunction Fallacy
– random process
• Regression to the mean
• Law of large numbers
• Misleading as it does not account for:
– prior odds
• Insensitivity to Base Rates
• Conjunction Fallacy
– random process
• Regression to the mean
• Law of large numbers
What contains: Affective valence = Natural assessment?
– Automatically computed
– Always accessible
– Always accessible
• A model of Judgment Heuristics
– Attribute Substitution
– Affect Heuristic
– Affect Heuristic
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