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Unit1 Section BWhy do smart people do dumb things?Objectives: To master the reading skill To understand the text To practice the phrases and patterns To learn about writing a survey reportContents :Warming upReading skillsText studyComparative studyUnit ProjectWarming-upLead-in video watching 1. What are the two examples of Sunk Costs Fallacy? 2. According to the speaker, what is Sunk Costs FallacyBackground Informationl Cognitive Bias- A cognitive bias is a pattern of deviation in judgment that occurs in particular situations, leading to perceptual distortion, inaccurate judgment, illogical interpretation, or what is broadly called irrationality. Many cognitive biases (认知偏差) are often studied for how they affect business and economic decisions and how they affect scientific and experimental researches.l Fundamental Attribution Error-A Fundamental Attribution Error (基本归因错误) is a cognitive bias in social psychology. It refers to the tendency to judge a person in an unpleasant situation in a bad light and attribute his behavior to internal causes and qualities rather than consider the situation or circumstances that may have caused the person to behave in that manner. But, if we ourselves made the same errors, we would easily attribute the causes to external factors.l Confirmation Bias-A Confirmation Bias (确定性偏差) is a cognitive bias whereby one tends to notice and look for information that confirms ones existing beliefs, whilst ignoring anything that contradicts those beliefs. It is a type of selective thinking. For example: After having bought a piece of clothing, you will look for the same clothing in a more expensive store to confirm that you have bought a bargain.Reading skillsSkimming is a method of rapidly moving the eyes over a text with the purpose of getting the main idea or a general overview of its content. For example, many people skim read a newspaper article just to get a quick overview, or a text to see whether its worth reading in detail. The key word for skimming is “general”.Steps to help you to skim an article1 Read the title it is the shortest possible summary of the content of the article.2 Read the introduction or lead-in paragraph(s).3 Read any sub-headings, and identify the relationships between them.4 Read the first sentence of each remaining paragraph; the main idea of most paragraphs appears in the first sentencePracticeSkim Text B to find answers to the following questions.1 What is this text mainly about? 2 What common cognitive biases can cause smart people to make bad decisions? 3 How can we avoid being affected by various types of cognitive biases when making a decision?Text StudyText Comprehension1. What is the traditional view about smart people according to Paragraph 1? (Para. 1) Smart people, by virtue of what theyve learned, will formulate better decisions.2. What is the most typical characteristic of the fundamental attribution error? (Para.3) One of the most common biases is what is known as the fundamental attribution error. Through this people attribute the _ to _ and their own to _, subconsciously considering their own characters to be _.3. What will you be affected if you are only interested in evidence that is in agreement with your own belief? (Para.5) The confirmation bias.4. When does the overconfidence bias usually occur? Overconfidence bias most frequently comes into play in areas where someone has _ _ estimating how many people are in a crowded plaza, for example, or how likely it will rain. 5. Why does the availability bias leads to strange and inaccurate conclusions? (Para.8) Because it causes people to use evidence that is not so convincing and strong.6. Why dont people want to leave a bad investment situation and commit the sunk cost fallacy? (Para.11) Because they dont want their previous investments to be wasted.7. What is the purpose of this text? The purpose of this text is try to help us learn about cognitive biases and be better at decision-making.Text SummaryPsychologists have uncovered cognitive biases are common to all people. One of the most common biases is_fundamental attribution error_. Through this people attribute the failures of others to character flaws and their own to mere _circumstance. _Confirmation_ bias is found together with fundamental attribution error. This one has two parts. First, people tend to gather and rely upon information that only confirms their existing views. Second, people avoid or veto things that refute their _pre-existing hypotheses_. Similar to confirmation bias is the _overconfidence bias, Which means we could be correct 100 percent of the time we were _100 percent sure_ about something, _correct 80 percent_ of the time we were 80 percent sure about something. The availability bias is also related to _errors_ in estimation, In action this bias might lead someone to cancel a trip because of a report that the _biggest plane crash in history happened there_. The sunk cost fallacy can lead people to stay in damaging situations. The key to avoiding these biases remains the same: Rely on _watertight logic_, carefully examine the evidence and _remain aware_! Practical phrasesPractical phrasesSpecific meanings ExamplesBy virtue of因为;由于;凭借由于工作原因,他有机会接触这一领域可以得到的大量的最新数据。By virtue of his work, he has access to a tremendous amount of the latest data available in this field. factor sth. into sth. 把考虑在内现在人们在选择食物时把热量考虑在内已变得更加普遍了。Now it has become more popular for people tofactor calories into their food choices. attribute sth. to sb. / sth.把.归因于公司把亏损归因于原料及劳动力成本的上涨。The company attributed to loss to higher material and labor costs.Come into play开始起作用在这一看似简单的决定的外表之下,有许多其它细节都起了作用。Underneath the surface of this seemingly easy decision, there were so many other details that came into play. In that因为,由于市场竞争是好事,因为他往往会使价格下降,这必定会给消费者带来福利。Market competition is good in that it tends to keep prices down, whichwilldefinitelybenefit allconsumers.In a row连续的反欺诈小组的工作人员突击搜查了这家公司的办公室后这家公司的股价连续下跌。The companys share price has fallen for three days in a row after fraud squad officers raided its offices.Be/get stuck on sth被困住;

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