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Cognition (Oct 29-Nov 15)
Terms in this set (9)
Do negative or positive events have a greater impact on individuals?
How does living proximity predict interpersonal relationships?
Participants who live closely to each other (rather than far away) were more likely to become friends, but they were also more likely to become enemies. Proximity is an even stronger predictor of disliking.
Is "bad is stronger than good" evolutionarily adaptive?
A person who ignores the possibility of a positive outcome may later experience significant regret at having missed an opportunity for pleasure or advancement, but nothing directly terrible is likely to result. In contrast, a person who ignores danger (the possibility of a bad outcome) even once may end up maimed or dead.
The endowment effect
Mere possession of an object increases the value of the object.
If there are two groups of people, one with an object and one without, who will place higher value on the object?
The people who have the object.
Status quo bias
The tendency to favor the "here and now" and to reject potential change. Tendency for people to avoid acting and maintain the previous or default decision.
Group A inherits a sum of money and must choose from various investment options (moderate risk, high-risk, etc.). Group B inherits a portfolio of investments, most are concentrated in one
specific option (e.g., moderate-risk). Each group chose from same array of investment options. What does group b pick?
The previously invested option, regardless of risk.
Is loss aversion a good thing?
Loss aversion might have an important protective influence on health.
- Foraging decisions - Cost to leave a food source might be death, best to forage with caution.
- Consequences of unhealthy behavior involve loss.- Loss of relationships, opportunity, addiction, cancer, disease. - Loss aversion might be a protective factor.
Are people with substance use problems less loss averse than healthy controls?
Smokers are less loss averse than non-smokers.
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