PSY100H1 Chapter Notes - Chapter 8: Affective Forecasting, Context-Dependent Memory, Mental Accounting
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PSY100H1 Full Course Notes
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Ch 9 high effort judgment and decision making. Judgment is the evaluation of an object or estimate of likelihood of an outcome or event: decision making refers to making a selection among options or course of action. High-effort judgment processes: estimation of likelihood: judging how likely it is that something will occur, i. e. the likelihood that it will break down/ that others will like it/ that it will satisfy needs. Mood can serve as the initial anchor: good mood lead to positive response to new items i try. High-effort decisions and high-effort decision making process: deciding which brands to consider (consideration set) Inept set: options that are unacceptable when making a decision. Cognitive decision-making model: the process by which consumers combine items of information about attributes to reach a decision. Cognitive models: describe the processes by which consumers combine information about attributes to reach a decision in a rational, systematic manner.
