Asked by Isabella Huynh on Jun 11, 2024
Verified
The ___ occurs when people assess the likelihood of something occurring based on its similarity to a stereotyped set of occurrences.
A) representativeness heuristic
B) availability heuristic
C) escalation heuristic
D) satisficing heuristic
E) anchoring and adjustment heuristic
Representativeness Heuristic
A cognitive bias in decision-making where the likelihood of an event is estimated based on how much it resembles existing stereotypes or patterns.
Availability Heuristic
A cognitive bias where people overestimate the importance or frequency of information that is readily available to them.
Anchoring and Adjustment Heuristic
A mental shortcut that influences the way people intuitively assess probabilities and make decisions based on initial information.
- Differentiate between the roles of heuristics and biases within the process of making decisions.
Verified Answer
HK
Hristina KostadinovaJun 16, 2024
Final Answer :
A
Explanation :
The representativeness heuristic is the tendency to judge the likelihood of an event by comparing it to a similar prototype in one's mind and assuming that it is representative of the larger group or category from which it is drawn. This can lead to inaccurate judgments because individuals may ignore relevant base rate information or the fact that the sample size is too small to generalize from.
Learning Objectives
- Differentiate between the roles of heuristics and biases within the process of making decisions.