COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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We want to use as much brain power as we can
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We want to use as little cognitive energy as possible
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We don’t like spending much money on thinking
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We want to use as little time thinking as possible
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Detailed explanation-1: -anyone who seeks out quick, adequate solutions to problems rather than slow, careful ones. Despite this negative denotation, the term describes a general tendency among all people: That is, as a rule people tend to use mental shortcuts in making judgments and drawing inferences.
Detailed explanation-2: -Humans are cognitive misers because our basic tendency is to default to the processing mechanisms that require less computational effort, even if they are less accurate.
Detailed explanation-3: -Stereotypes are an example of cognitive miserliness, as people assign different stimuli, such as people of certain races, to particular categories with certain characteristics so that they can attend to just the category, rather than the individual when engaged in social situations.
Detailed explanation-4: -The Cognitive Miser model of social thinker posits that that humans are motivated to solve problems efficiently to conserve limited cognitive resources.