note
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Quiz: Cognitive biases and mental heuristics
Quiz questions:
1. Which cognitive bias describes the tendency to seek and interpret information so that it confirms existing beliefs?
- a) Anchoring effect
- b) Confirmation bias
- c) Availability heuristic
- d) Base rate fallacy
2. An investor holds on to a stock even though it is continuously losing value, because they do not want to lose the original purchase price. Which cognitive bias is shown here most clearly?
- a) Dunning-Kruger effect
- b) Hindsight bias
- c) Status quo bias
- d) Sunk cost effect
3. The availability heuristic can lead people to:
- a) Be too strongly influenced by first impressions
- b) Overestimate the probability of dramatic but rare events
- c) Overestimate their own abilities
- d) Rely too much on expert opinions
4. Which phenomenon does the Dunning-Kruger effect describe?
- a) The tendency to regard past events as predictable
- b) The tendency in groups to strive for consensus and suppress dissenting opinions
- c) The tendency of people with low abilities to overestimate themselves, and of experts to underestimate themselves
- d) The tendency to explain the behavior of others through personal traits and to underestimate situational factors
5. Which strategy is best suited to overcoming confirmation bias?
- a) Make decisions more slowly
- b) Actively seek information that contradicts one's own beliefs
- c) Rely on statistical data instead of anecdotes
- d) Take the perspective of other people
Answers:
- b) Confirmation bias
- d) Sunk cost effect
- b) Overestimate the probability of dramatic but rare events
- c) The tendency of people with low abilities to overestimate themselves, and of experts to underestimate themselves
- b) Actively seek information that contradicts one's own beliefs