CO SCI 136 Lecture Notes - Lecture 4: Creative Problem-Solving, Optimism Bias, Sampling Bias
Document Summary
Entrepreneur individual who recognises & exploits new business opportunities by founding new ventures. Entrepreneurial environments are unpredictable & rapidly changing thus no well-learned scripts can be followed. In these circumstances, affect has a big impact on behaviour & cognition: when making judgements, people examine their feelings and respond accordingly. Perceive other people, objects, ideas etc. as more favourably. More likely to engage in heuristic thinking. Pros: capacity to make faster decisions & release of cognitive resources for use in other tasks. Cons: optimism bias& planning fallacy can interfere with effective decision making. & problem solving when peeps face novel tasks in which previous knowledge is not applicable/relevant. Mood congruence: more positive information is noticed & entered into memory. Mood dependent memory: more positive information is retrieved from memory (mood as retrieval cue) Cons: biased sample of recalled information may lead to errors in judgement.
