Heuristics Principles

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Issue:

Business

 

Written by:

Matthew D

 

Date added:

February 23, 2012

 

Level:

University

 

Grade:

A

 

No of pages / words:

3 / 705

 

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8653 times

 

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This left alternative B. By using representativeness heuristics (Watson, A. et al, 1998), I framed an opinion that someone active in the feminist movement could very well have a similar background to Linda. My rationale fell prey to conjunction fallacy, in that it is less probable that Linda is both a bank teller and a feminist than just a bank teller or just a feminist (Hertwig & Gigerenzer, 1999, p...
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275). Using representative heuristics again in Activity #1B, I chose the third option, no preference. I figured there still was a 50/50 chance that the unbiased coin would land on either heads or tails. Anyone that chose Heads would have been a victim to "the hot hand," in that they were predicting a continuation of the random sequence of coin tosses to land on Heads...
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