Judgment, Heuristics, and Decision-Making in Cognitive Psychology — Chapter 11 Summary from Cognitive Psychology
Judgment, Heuristics, and Decision-Making in Cognitive Psychology — Chapter 11 Summary from Cognitive Psychology Why do people make irrational choices, stick with bad investments, or trust gut feelings over facts? Chapter 11 of Cognitive Psychology explores the psychological mechanisms behind judgment and decision-making . In this chapter summary from Last Minute Lecture , we examine how people make choices, the role of mental shortcuts (heuristics), and how biases like overconfidence or framing effects shape decisions under uncertainty. Watch the video above or read on to discover why our minds often take cognitive shortcuts—and how this impacts everything from daily choices to major life decisions. Judgment vs. Decision-Making Judgment involves estimating or predicting outcomes based on incomplete information. Decision-making goes one step further by choosing between alternatives based on judgments. Both are influenced by probability, value, emotion, and context. Norm...