Surely Q1 is the very definition of respresentativeness (ans: heuristic driven bias) and Q3 is the very definition of Bayesian Rigidity. I thought Familiarity was a valid answer to Q2. I would concede that my frame dependence answer to Q4 was inferior to the correct answer (herding behaviour). Do you think the answer key would really be so rigid? I mean the statements are pretty generic. And I genuinely believe Bayesian Rigidity is a superior answer versus Anchoring. Anchoring is failing to fully incorporate new info. BR is sticking with your view in spite of new info. The statment is much more suggestive of the latter.
yeah I was gonna actually say that I said “overconfidence” for the first comment and for the second one I said"aversion to ambiguity"but I guess it has something to do with winning 100 bucks is preferred to winning 200 bucks or nothing at a fair bet
anchoring is also sticking with your original view despite new information (just like BR). achoring is not fully incorporating new info into your view…i wrote both so you can see that i’m saying the same thing but differently.
^^ probably the way to go on the rare occasions when you are confident it could be two. Might be more likely to then give you the marks for the explanation. I am assuming the worst when it comes to grading my paper though… get myself nice and scared…
Just did this question myself this morning I went with Over confidence Status quo / fear of unknown Anchoring Noise trading I scored myself two out of four, but I’m not sure if I should lose points for the 2nd one and whether I would pick up points for the others. I don’t like this whole writing thing.