Question

People often take shortcuts in problem solving and quickly arrive at answers. Known as heuristics, these...


People often take shortcuts in problem solving and quickly arrive at answers. Known as heuristics, these shortcuts may increase the speed of decisions but may also decrease the accuracy of those decisions. Using typical reasoning answer the following questions.
do participants give higher ratings for single events or conjunctions of events? were these judgements made by using objective probabilities? Why or why not?

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Individuals have a tendency to give higher ratings for a conjunction of events, rather than a single event. The phenomenon is known as the conjunction fallacy (or the Linda problem) and refers to a formal cognitive fallacy that occurs when it is assumed that specific conditions are more probable than a single general one. These judgements are not the result of objective probabilities because the probability of two events occurring together (in "conjunction") is always less than or equal to the probability of either one occurring alone. In mathematical terms, for two events, for two events A and B this inequality could be written as and .

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