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date: 09 December 2019

Abstract and Keywords

This chapter reviews classic and contemporary phenomena in the field of judgment and decision making, particularly as they relate to social psychology and social cognition. The review focuses on the cluster of ideas encapsulated in the “heuristics and biases” perspective. This perspective views judgments and decisions as the product of a relatively small number of mental shortcuts, and often compares how people actually make judgments and decisions with how they ought to make judgments and decisions. Topics regarding decision making include prospect theory and reasoned-based choice. Topics regarding judgment under uncertainty include representativeness, availability, and anchoring and adjustment. Also reviewed are studies concerning confidence, the correction of judgment, and emerging ideas about the interaction of emotion, judgment, and decision making. A discussion of the two-systems view of judgment and decision making and emerging questions for future research concludes the chapter.

Keywords: judgment, decision making, choice, intuition, prospect theory, heuristics, biases

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