Nick's Final Working Infographic PDF

Problem Solving

Reasoning

Decision-Making

Framing Effects:

Base Rate Fallacy:

Endowment Effect:

Definition: People reason better when finding conclusions from a set of premises rather than deductively finding the premises from a conclusion. Real-World Hypothetical: When LeBron scores 30 points, his team always wins; when his team loses, fans tend to assume he didn't score 30 points, which isn't necessarily true. Experimental Proof: When reasoning, participants showed that validating a premise (pollens) was more effective due to the ability to reinterpret premises in beneficial ways. (Rips, 1994).

Definition: When analyzing past events, unusual changes stand out and impact human reasoning more when exceptional results occur. Real-World Hypothetical: A morning gym-goer is forced to go later and hurts her shoulder; she might attribute the injury mainly to the change in time. Experimental Proof: Participants judged a hypothetical routine with different alterations, which eventually had an exceptional outcome. By completing a 'what if,' they consistently overvalued the impact of specific alterations they read. (Kahneman et al., 1973)

Expert Memory Chunking Effect:

Schema Distortions:

Functional Fixidity:

Modus Pollens/Tollens Effect:

Exceptionality Effect:

Hindsight Bias:

Definition: The tendency to misremember one's past perspective/ability to foresee events that they eventually lived through. Real-World Hypothetical: When one's team wins the championship, some falsely believe they foresaw the victory from the start of the season. Experimental Proof: People who experienced terrorist attacks misremembered and exaggerated their risk judgment when reflecting back on the day of the event. (Fischhoff, 2005).

Definition: The tendency to value the same object more when it is in one's possession rather than if they never owned it. Real-World Hypothetical: Supporters tend to overvalue their teams' players simply because it is their team and not statistical metrics. Experimental Proof: Participants predicted a higher price of a mug if they were endowed with it compared to those who were not. (Kahneman et al., 1991).

Definition: The tendency to be influenced more by highly specific and new information than by more general probabilities and historical data. Real-World Hypothetical: A sports fan glorifying the highlights/statistics of an exciting new player over more skilled highlights/statistics from a player 10 years ago. Experimental Proof: Participants analyzed and judged different statistical information and frequently overlooked important statistical information in favor of quick generalized prediction. (Kahneman et al., 1973).

Definition: The idea that a piece of information can be presented in various ways, each way uniquely affecting the way one understands/reacts to it. Real-World Hypothetical: An athlete learns less from his strength coach using negative feedback than from his conditioning coach, who uses positive feedback. Experimental Proof: Participants were asked to choose between a positively phrased option and a negative one; participants favored the positive one in decision-making. (Kahneman et al., 1981)

Definition: The tendency to tailor memory toward schema/groupings of knowledge, which affects one's ability to remember past experiences objectively. Real-World Hypothetical: A marathon runner who misremembers the weather during their first marathon as more intense due to the difficulty of the run. Experimental Proof: Students were tasked with recalling the objects in a recently visited office, and their recall favored/tailored toward stereotypical office objects over observed 'unusual' objects. (Brewer, 1981).

Definition: The ability of someone advanced in their field to group large swaths of information into more abstractly practical 'chunks.' Real-World Hypothetical: Expert golfers can synthesize all the various movements required for a perfect shot in one fluid motion. Experimental Proof: Chess players with varying skills were tasked with remembering both game-like/realistic formations of pieces and impossible ones. Experts proved to remember possible formations more than weaker players. (Chase et al., 1973).

Definition: The tendency for mental creative blocks when attempting to think of new ways to use or interact with an established object. Real-World Hypothetical: A coach who only uses a medicine ball for core exercises likely won't realize the cardio benefits of tweaked exercises. Experimental Proof: Participants were asked to prevent candle-wax from dripping using materials like a box of tacks, and they consistently struggled to repurpose the use of the box as a platform. (Ducker, 1945).