Understand common heuristics—availability, anchoring, representativeness—and biases such as confirmation and overconfidence that affect judgment.
Availability heuristic judges likelihood by:
statistical data
random sampling
expert opinion
ease of recall
Anchoring bias occurs when initial info ______ subsequent judgments.
improves
validates
ignores
skews
Representativeness heuristic wrongly equates similarity with:
cost
utility
time
probability
Confirmation bias leads to:
seeking disconfirming evidence
balanced analysis
seeking supporting evidence
random selection
Overconfidence bias makes people:
accurately estimate
overestimate abilities
underestimate abilities
ignore tasks
Availability bias can be reduced by:
groupthink
statistical reasoning
gut feeling
anchoring
Anchoring effect is strongest when adjustments are:
complete
insufficient
irrelevant
accurate
Representativeness can lead to:
holistic view
base rate neglect
better predictions
data accuracy
Confirmation bias is mitigated by:
single source
group agreement
Devil’s advocacy
rapid decisions
Overconfidence is measured by:
calibration tests
random guessing
polls
surveys only
Starter
Understand the basics.
Solid
Good grasp of concepts.
Expert!
Deep command of topic.
