#1
Which cognitive bias refers to the tendency to rely heavily on the first piece of information encountered when making decisions?
Anchoring bias
ExplanationTendency to rely on initial information.
#2
In decision-making, what does the availability heuristic primarily rely on?
The most easily recalled information
ExplanationReliance on easily recalled information.
#3
Which cognitive bias refers to the tendency to favor information that confirms one's preexisting beliefs or hypotheses, while ignoring or dismissing contradictory evidence?
Confirmation bias
ExplanationFavoring confirming information, dismissing contradictory evidence.
#4
Which cognitive bias leads people to overestimate the likelihood of rare events based on vivid or memorable examples?
Availability heuristic
ExplanationOverestimating rare event likelihood based on vivid examples.
#5
What is the primary characteristic of the representativeness heuristic?
Judging likelihood based on similarity to prototypes
ExplanationJudging likelihood based on similarity to prototypes.
#6
Which cognitive bias occurs when individuals believe they are less likely to experience negative events compared to others?
Optimism bias
ExplanationBelieving less likely to experience negative events.
#7
What does the framing effect in decision-making refer to?
The influence of the way information is presented on decision outcomes
ExplanationInfluence of information presentation on decision outcomes.
#8
Which cognitive bias involves placing undue importance on recent information and neglecting historical data?
Recency bias
ExplanationPlacing undue importance on recent information.
#9
What is the primary characteristic of the sunk cost fallacy?
Overvaluing past investments and letting them influence future decisions
ExplanationOvervaluing past investments, influencing future decisions.
#10
Which cognitive bias involves favoring information that confirms one's preexisting beliefs or hypotheses, while ignoring or dismissing contradictory evidence?
Confirmation bias
ExplanationFavoring confirming information, dismissing contradictory evidence.
#11
Which heuristic involves making decisions based on the ease with which examples come to mind?
Availability heuristic
ExplanationDecisions based on ease of recall.
#12
What is the base rate fallacy?
The tendency to ignore base rate information and focus on specific case information
ExplanationIgnoring base rate, focusing on specific cases.
#13
Which cognitive bias involves attributing success to internal factors while attributing failure to external factors?
Self-serving bias
ExplanationAttributing success internally, failure externally.
#14
Which heuristic involves making decisions based on the tendency to rely on the first piece of information encountered?
Anchoring heuristic
ExplanationMaking decisions based on initial information.
#15
What is the primary function of the hindsight bias?
To perceive past events as more predictable than they actually were
ExplanationPerceiving past events as more predictable than they were.
#16
Which cognitive bias involves the tendency to judge events as more likely if they are more easily recalled?
Availability heuristic
ExplanationJudging events as more likely if easily recalled.