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Reasoning and Decision Making - Coggle Diagram
Reasoning and Decision Making
types of reasoning
deductive reasoning
logically certain conclusion
inductive reasoning
conclusion likely but not guaranteed
abductive reasoning
decision making process
expected utility theory
heuristics
help save time
can lead to biases and errors
representativeness often ignores base rates
Dual-process Models
System 1
intuitive
fast, automatic, emotional
system 2
analytical
slow, effortful, logical
Biases in Decision Making
Confirmation Bias
Beliefs Bias
Framing Effect
Decisions change based on how options are presented.