ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It does not explain the interaction of the two systems.
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There is no biological support for a two systems approach.
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It is reductionist-it does not explain the role of emotion in decision making.
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The descriptors of the different systems are not well operationalized-for example, not all fast processing is System 1.
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Detailed explanation-1: -According to the “dual-route” hypothesis, non-words can be processed only by direct phoneme–grapheme conversion. Orthographic details cannot be processed simultaneously because of their lexical nature. The results of the present study cannot therefore be explained within this model.
Detailed explanation-2: -Which of the following is not a limitation of the Dual Process Model? There is no biological support for a two systems approach.
Detailed explanation-3: -Dual-process models of information processing contend that humans use two different processing styles. One is a quick and automatic style that relies on well-learned information and heuristic cues. The other is a qualitatively different style that is slower, more deliberative, and relies on rules and symbolic logic.
Detailed explanation-4: -System 1 and System 2 encompass two different thought processes that people go through when making decisions, a theory known as “dual processing.” The distinction: System 1 is a person’s emotional, automatic reaction to information, and System 2 is a more tempered, controlled thought process that’s based on evaluation.