Chapter 6 Flashcards
(9 cards)
What are the two philosophical approaches highlighted in the footbridge dilemma, and how do they differ?
1-Utilitarian approach: This approach focuses on maximizing overall good by evaluating costs and benefits. For example, it would be considered acceptable to sacrifice one person if it means saving five others.
2-Deontological approach: This approach judges actions based on rules or moral duties, regardless of the consequences. According to this view, it would be morally wrong to sacrifice one person even if it could save five others.
How does the conflict between “want” and “should” influence decision-making?
The “want” is driven by emotion and tends to seek immediate gratification, whereas the “should” is based on reason and favors long-term rewards. When options are evaluated individually, emotional responses dominate, while multiple choices considered together often promote more reasoned decision-making. However, the “want” can overpower the “should,” especially in self-control issues like procrastination or addiction.
What is self-serving reasoning, and how does it affect perceptions of fairness?
Self-serving reasoning is when individuals adjust their perception of fairness to align with their self-interest. For example, if someone wins a lawsuit, they might believe the other party should pay legal fees, but if they lose, they might feel they shouldn’t pay. People often justify these biased views by emphasizing attributes that support their own interests.
How do specific emotions influence our decision-making tendencies?
Specific emotions trigger unique appraisals:
Fear makes us more sensitive to risks.
Disgust focuses on physical contamination, leading us to discard things.
Sadness focuses attention on oneself and motivates changes in one’s circumstances.
Anger increases confidence and risk-seeking behavior, lowering sensitivity to risk.
Happiness makes people more optimistic, while sadness tends to make them pessimistic.
How do sadness and disgust affect the Endowment Effect?
Sadness and disgust can reduce the Endowment Effect, which is the tendency to value an owned item more than an unowned one. Disgust drives a desire to get rid of things, so sellers are more willing to sell at lower prices. Sadness creates a desire to change circumstances, making people more willing to buy and sell at lower prices.
How do emotions shape our perception of risk?
Emotions play a major role in risk perception:
Fear induces risk aversion, leading to cautious decision-making.
Anger leads to risk-seeking behavior and increased confidence.
Happiness makes people more optimistic, whereas sadness makes them more pessimistic.
What is mood-congruent recall, and how does it affect decision-making?
Mood-congruent recall is the tendency to remember information that matches our current mood. For instance, depressed individuals struggle to remember happiness, while happy people find it hard to recall difficult times. This tendency suggests that decisions are influenced by current emotional states, making it wise to time requests (like asking for a raise) when the decision-maker is in a good mood.
How does regret avoidance influence decision-making?
Regret avoidance is the tendency to make decisions that minimize future regret, sometimes leading to suboptimal choices. For example, missing a flight by minutes can lead to more regret than missing it by hours, as it highlights how close one came to a different outcome. Silver medalists often experience more regret than bronze medalists because they feel they were close to winning gold.
How can identifying emotions help reduce decision-making biases?
Recognizing our emotional state can help activate more rational System 2 reasoning. Identifying and understanding the source of an unpleasant emotion, like anger or fear, allows us to address it and make more balanced decisions, reducing the influence of emotional bias.
