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The heuristic was found to be successful in the stock market [17] and also been found to describe parental resource allocation decisions: parents typically allocate their time and effort equally amongst their children. [18] Social-circle heuristic. The heuristic is used to infer which of two alternatives has the higher value.
Behavioral confirmation is a type of self-fulfilling prophecy whereby people's social expectations lead them to behave in ways that cause others to confirm their expectations. [1] The phenomenon of belief creating reality is known by several names in literature: self-fulfilling prophecy, expectancy confirmation, and behavioral confirmation ...
This strategy is an example of a heuristic: a reasoning shortcut that is imperfect but easy to compute. [63] Klayman and Ha used Bayesian probability and information theory as their standard of hypothesis-testing, rather than the falsificationism used by Wason. According to these ideas, each answer to a question yields a different amount of ...
The representativeness heuristic is seen when people use categories, for example when deciding whether or not a person is a criminal. An individual thing has a high representativeness for a category if it is very similar to a prototype of that category.
Confirmation bias is the tendency to search for, interpret, focus on and remember information in a way that confirms one's preconceptions. [32] There are multiple other cognitive biases which involve or are types of confirmation bias: Backfire effect, a tendency to react to disconfirming evidence by strengthening one's previous beliefs. [33]
Social rationality is a form of bounded rationality applied to social contexts, where individuals make choices and predictions under uncertainty. [1] While game theory deals with well-defined situations, social rationality explicitly deals with situations in which not all alternatives, consequences, and event probabilities can be foreseen.
Wason attributed this failure of subjects to an inability to consider alternative hypotheses, which is the root of the congruence bias. Jonathan Baron explains that subjects could be said to be using a "congruence heuristic", wherein a hypothesis is tested only by thinking of results that would be found if that hypothesis is true.
For example, people have long believed that ulcers were caused by stress, due to the representativeness heuristic, when in fact bacteria cause ulcers. [2] In a similar line of thinking, in some alternative medicine beliefs patients have been encouraged to eat organ meat that corresponds to their medical disorder.