COM 200-Final Exam Notes

COM 200-Final Exam Notes - Availability Heuristic Incorrect...

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Availability Heuristic Incorrect perceptions. Shows how perceptions of risk can be influenced by reference points. Example: Homicide is more probable people think just because it is portrayed in the media most often. Detailed Imagination One way to encourage availability, in which the probabilities of risk can be distorted, by having people imagine an event. Example: When people try to sell you insurance. Anchoring Psychologists have shown that people's risk perception can also be severely distorted when they are provided with a reference point, which they can adjust up or down. People tend to stay close to the anchor. Representativeness Heuristic Leads people to assign higher probabilities than are warranted to scenarios that are representative of how we imagine things would happen. Conjunction Fallacy When representativeness heuristic sometimes leads people to fall into a judgment trap. Occurs when detailed scenarios are given higher probability assessments than statements of one of the simple events alone. Base Rate
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COM 200-Final Exam Notes - Availability Heuristic Incorrect...

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