Listen "Affect Heuristic"
Episode Synopsis
We discuss the affect heuristic, a cognitive bias that suggests people make decisions based on their emotional feelings towards a particular option, rather than through a rational, logical process. The texts investigate various facets of the affect heuristic, exploring its influence on judgments of risk and benefit, evaluability, and preference reversals. The research highlights how the affect heuristic can lead to seemingly irrational choices, such as a preference for less food or a greater willingness to pay for a beloved, yet non-functional, antique clock. The texts further explore the evolutionary origins of the affect heuristic by studying the behaviour of rhesus monkeys, finding evidence that this cognitive bias is present in primates, suggesting its deep evolutionary roots.
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