Biased Assimilation = Bending new experiences so they fit within existing stereotypes e.g. racist views.

  • Lead to overconfidence (consistently) in the truth
  • Underestimating the probability they could be wrong
  • Related to optimistic bias

Cognitive Bias = The processes that are used to explain irrational judgement and decision making.

  • Judgements and decisions are often made on the basis of intuition rather than objective statistical information. Common errors are:
  • Perceive random events are non-random, e.g. bad luck
  • Perceiving correlated events as causally related

Anchoring Bias = The insufficient judgement, up or down, from an original starting value when judging the probability of events.

  • Judgements raised or lowered depending on context question delivered
  • Money from charities, advertising: not $500 not $400 etc
  • STARTING WITH: Lower value = Lower estimate, Higher value = Higher estimate from original
  • Effect of anchoring doesn't disappear even if people know the initial estimate, anchor = random, event with extreme anchors.

Availability of Heuristics = Causes individuals to judge more frequent on events that are more readily retrieved.

  • Dramatic, vivid, individual cases (experience) are placed into memory, where when ready are used.
  • g. People die from AIDS or asthma
  • Rare = news, relies on heuristics to alter judgements
  • Presents dramatic case studies than less dramatic objective facts

Representativeness Heuristic = Belonging to a particular category implies having the characteristics considered typical of members of that category.

  • Asian =
  • More drivers than English literature professors who read poetry is possible
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