Summary: Judgment | Bazerman

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  • 1 Samenvatting

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  • Strategy of a player

    completely elaborated plan of playing

  • Strictly dominant equilibrium

    multi-strategy where each player has a strictly dominant strategy

  • Weakly pareto efficient multi-strategy

    a multi-strategy such that there is no multi-strategy where each player has a larger payoff, there is no other state that is for all players better

  • Prisoner’s dilemma game

    a game with a strictly dominant equilibrium that is weakly pareto inefficient

  • Full cooperative multi-strategy

    sum of payoffs is maximal 

  • Test of willpower (Baumeister et al, 1998

    aste radish or cookies and after that solve puzzles. 

  • The logic of feeling (Pham, 2004

    affective feelings may tap into a separate system of judgment and decision making with its unique strengths and weaknesses. Affect, feelings, emotions need not be detrimental to sound judgments and decisions. 

  • Active trading because of overconfidence 

    people are overconfident in their ability to predict where the market is going next, but frequent trading does not give higher turnovers.

  • Mental accounting in investments

    ‘clearing out’ a portfolio by selling losing shares at the same time and realizing gains consecutively 

  • The preference reversal phenomenon

    product A preferred over B under one method of measurement (f.e. choice) but B preferred under a different but presumably equivalent measurement procedure (f.e. pricing)

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