Quiz: Cognitive Biases and Mental Heuristics
Quiz Questions:
1. Which cognitive bias describes the tendency to search for and interpret information in a way that confirms existing beliefs?
a) Anchoring effect b) Confirmation bias c) Availability heuristic d) Fundamental attribution error
2. An investor holds onto a stock even though it is continuously losing value because they do not want to lose the original purchase price. Which cognitive bias is most evident here?
a) Dunning-Kruger effect b) Hindsight bias c) Status quo bias d) Sunk cost fallacy
3. The availability heuristic can lead people to:
a) Be overly influenced by first impressions b) Overestimate the probability of dramatic but rare events c) Overestimate their own abilities d) Rely too much on expert opinions
4. What phenomenon does the Dunning-Kruger effect describe?
a) The tendency to view past events as predictable b) The tendency to strive for consensus in groups and suppress dissenting opinions c) The tendency of people with low abilities to overestimate themselves and of experts to underestimate themselves d) The tendency to explain the behavior of others through personal characteristics and underestimate situational factors
5. Which strategy is best suited to overcome confirmation bias?
a) Make decisions more slowly b) Actively seek information that contradicts your own beliefs c) Rely on statistical data instead of anecdotes d) Take the perspective of other people
Answers:
- b) Confirmation bias
- d) Sunk cost fallacy
- b) Overestimate the probability of dramatic but rare events
- c) The tendency of people with low abilities to overestimate themselves and of experts to underestimate themselves
- b) Actively seek information that contradicts your own beliefs