Question

Which of the following is not a case of representativeness heuristic?

a) sunk cost fallacy
b) conjunction fallacy
c) anchoring
d) law of large numbers
e) more than one of the above

Answer 1

The Law of large numbers is not a case of representativeness heuristic.

Step-by-step explanation:

The representativeness heuristic is a cognitive bias that involves making judgments about the likelihood of an event based on how closely it matches a certain prototype or stereotype.

1. A) Sunk cost fallacy: This is not an example of representativeness heuristic. The sunk cost fallacy refers to the tendency to continue investing in something because of the resources already invested, even when it is no longer beneficial.
2. B) Conjunction fallacy: This is an example of the representativeness heuristic. It occurs when people believe that a combination of events is more probable than a single event, even when the single event is more likely.
3. C) Anchoring: This is an example of the representativeness heuristic. Anchoring bias occurs when people rely too heavily on initial information or values when making judgments or estimates.
4. D) Law of large numbers: This is not an example of a representativeness heuristic. The law of large numbers states that as the number of trials or observations increases, the observed frequencies will converge to the true probabilities.
5. E) More than one of the above: This is not a single case, so it cannot be a specific example of representativeness heuristic.

Based on the above information, the answer is

d) Law of large numbers

as it is not a case of representativeness heuristic.