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Judgment Heuristics and Prospect Theory: Some Practical Implications for Relations Across the Taiwan Strait

Published online by Cambridge University Press:  24 March 2016

Steve Chan
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Extract

People are subject to a variety of psychological factors that distort their reasoning. Emotions such as anger, fear, greed, and envy are examples of “hot” impulses that can cause such distortions. As well, motivations such as conformity and competition are another common source of judgmental errors. This paper, however, addresses a number of “cold” impulses that can also contribute to biased judgment. The focus is therefore on the cognitive rather than affective dimensions of judgment under uncertainty, and on situational rather than personality explanations, seeking to account for departures from rational decisionmaking.

Type
Articles
Information
Journal of East Asian Studies , Volume 3 , Issue 1 , April 2003 , pp. 75 - 95
Copyright
Copyright © East Asia Institute 

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