System One
A mode of thinking, derived from Dual Process Theory, that is fast, automatic, and intuitive, often relying on heuristics and immediate impressions.
102 topics found for
“decision-making efficiency”
Take the Best Heuristic
A decision-making rule where individuals choose the option with the highest perceived value based on the first good reason that comes to mind, ignoring other information.
Satisficing
A decision-making strategy that involves choosing an option that meets the minimum requirements rather than seeking the optimal solution, balancing effort and outcome.
Weighted Scoring
A prioritization method that assigns different weights to criteria based on their importance, helping to make informed decisions and prioritize tasks effectively.
Fast and Frugal Heuristics
Decision-making strategies that use simple heuristics to make quick, efficient, and satisfactory choices with limited information.
Heuristic
A rule-of-thumb or shortcut that simplifies decision-making and problem-solving processes.
Bikeshedding
Also known as Parkinson's Law of Triviality, is the tendency to spend excessive time on trivial details while neglecting more important issues.
Hick’s Law
A principle that states the time it takes to make a decision increases with the number and complexity of choices available.
Bounded Rationality
A concept that humans make decisions within the limits of their knowledge, cognitive capacity, and available time, leading to satisficing rather than optimal solutions.