PSYC 215 Lecture Notes - Lecture 13: Confirmation Bias, Socalled, Social Reality
Document Summary
Bank run scene: people want their money from the bank, but the bank does not have enough money to give to everyone. Bank run: people hear a rumor and start to worry that their money is not safe in the bank. many start to demand to take their money out. The bank eventually cannot pay everyone and so goes out of business. Because money you deposit is lent out to borrowers, who cannot immediately return it to the bank. A false definition of the situation evoking a new behavior which ,akes the originally false conception come true. The prophet will cite the actual course of events as proof that he was right from the very beginning . The bank was not in trouble in the beginning, but then the people panicked and all asked for their money out of the bank and so then the bank had a problem.
