just leave things as they actually are anchor of recommendation in a sense

Just leave things as they actually are anchor of

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just leave things as they actually are anchor of recommendation in a sense Retirement savings: big issue that ppl aren’t saving enough for retirement, so efforts to increase retirement saving rates increase. People can opt out if they want but no one does. of 54 59 Downloaded by Sana Bansal ([email protected])
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Status quo bias: we are more likely to keep things the way they are. Dan Kahneman Advice: Structure your environment to make it easier to do the things you want to do, and harder to do the things you don’t want to do. These little things have a stronger impact than bigger, flashier things like motivation. Finding inner motivation is much harder than just setting up barriers for yourselves. Less is more effect: having less knowledge can lead to better decisions. Overthinking is useless sometimes. in exams, sometimes a non-psych student can do better because they don’t have enough knowledge to get caught up on distractor details. CFO study: took CFOs from the most successful companies, asked them to make stock decisions. They were less than 50% accurate (less than chance!) you can outperform financial analysts by buying the entire stock market through index fund 04.10.2018 INTELLIGENCE Generally thought to be efficient and appropriate decision making. IQ tests were designed to measure general intelligence differences. SELF MEASUREMENTS OF INTELLIGENCE consistent findings: Men estimate their IQs higher, women underestimate their IQs also, participants gave higher IQ estimates to their fathers than their mothers shows flawed idea that intelligence is a masculine trait in our society USE OF IQ SCORES Clinical and neuropsychological assessment: just to see general cognitive ability, like with stroke victims Educational settings: placement of children into classes with more help Career assessment: find career best suited to cognitive strengths MEASURING INTELLIGENCE Psychometrics: theory and use of psycho assessment standardization: when you take a test, your score is compared to group that took the test before (the standardization / norm group) scores are normally distributed the normal / bell curve mean is 100, standard deviation of 15 of 55 59 Downloaded by Sana Bansal ([email protected])
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95% of the population with within, 68% of ppl are within one SD of the mean, 2 SDs of the mean HISTORY OF INTELLIGENCE TESTING Francis Galton (1822 to 1911) measured intelligence scientifically for the purpose of eugenics Racism in intelligence testing came up again in 1994, with the book “The Bell Curve” • not statistically supported, very criticized Alfred Binet: response to request from French government to identify children who needed extra help at school Simon-Binet Test not meant to measure intelligence — he didn’t even believe that intelligence could be tested in this way Simon Binet test: measured thinking abilities by evaluating amounts of correct answers (performance method) first found the average level of knowledge of average school aged French child to have a standard point of departure for his study
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