Thinking, Fast and Slow

Question 1

Anchoring is a cognitive bias where an individual depends too heavily on _________________ offered (considered to be the “anchor”) when making decisions.

Answer 1

an initial piece of information

Question 2

Cognitive ease makes us feel more favorable toward things that are _______________________

Answer 2

familiar, easy to understand, and easy to see or read.

Question 3

Hindsight bias is a term used in psychology to explain the tendency of people _____________ their ability to have predicted an outcome that could not possibly have been predicted.

Answer 3

to overestimate

Question 4

Regression toward (or to) the mean is the phenomenon that arises if a random variable is __________ but closer to the mean or average on its second measurement.

Answer 4

extreme on its first measurement