1-mindware Tools Flashcards
Fundamental attribution error
Tendency to attribute others actions to their disposition while attributing your own to context and situational variance.
Cognitive dissonance
Having inconsistent thoughts or beliefs in comparison to behavior and actions.
Cognitive Dissonance Theory (Pascal)
A change of behaviors will reduce dissonance or cause a change in attitude, either of which will result in corrected equilibrium.
When making a decision, economists suggest using a(n) ___________________.
Cost-benefit analysis
Sunk cost principal
Only future benefits and costs should figure into your choices.
Opportunity costs
The costs of engaging in a given course of action, thereby losing the benefit of the next action.
Ex. Playing football instead of basketball.
Need evaluating when deciding between two similar costs
Aversion to loss theory
People will generally choose to avoid losses even when the odds or payout are heavily in their favor.
They avoid loss in place of acquiring equivalent gains.
Ex. Better to not lose $5 than to gain $5
Endowment effect
People ascribe more value to items, simply because they own them.
The law of large numbers
The higher the sample size, the more accurate the prediction or conclusion.
Status quo bias
Human desire to maintain the status quo even when its not in their best interest
Illusory correlation
Tendency for humans to assume correlations exist where they do not.
Dichotomous
Either/or
Confirmation bias
Tendency to look for data to support our conclusions and ignore data that refutes it.
Regression to the mean
Extreme events will be corrected by a pull towards the average
Representativeness heuristic
If a is similar to b, we’re likely to see a relationship between them even if none exist.
Availability heuristic
The occasions when A is associated with B are more memorable than occasions when it isn’t and we’re likely to overestimate the strength of the relationship.?
Statistical coding
Applying categories that allows researchers to turn qualitative data into quantitative data
Deductive reasoning
Reasoning from a premise to an assured logical conclusion.
Syllogisms
Rules in which a conclusion is drawn from 2 or more premises.
Heavily used in deductive logic
Propositional logic
Formal logic based on conditionals. If A then B.
Inductive reasoning
Bottom up, observations used to support a hypothesis and reach a determination.
Scientific method, not gauranteed to be true but through strong experiment and research procedures can get within a few standard deviations.
Dialectical reasoning
Not formal, instead involves clarifying and making assumptions or arguments more coherent and likely to be correct or useful. Socratic method.
Can also take a thesis, antithesis, then synthesis to resolve contradiction (18th century, Hegelian version)
Concerned with finding useful conclusions, not necessarily true.
Dialectical philosophy
Focused on context, contradiction and change instead of logic.
Eastern response to logic. Better suited to day to day decisions, and social encounters, but not as good as effective for science
Epistemology
The study of knowledge and thinking
