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.
13 topics found for
“decision-making heuristic”
System One
A mode of thinking, derived from Dual Process Theory, that is fast, automatic, and intuitive, often relying on heuristics and immediate impressions.
Affect Heuristic
A mental shortcut where current emotions influence decisions, often bypassing logic and reasoning.
Fast and Frugal Heuristics
Decision-making strategies that use simple heuristics to make quick, efficient, and satisfactory choices with limited information.
Behavioral Economics
The study of psychology as it relates to the economic decision-making processes of individuals and institutions.
Availability Heuristic
A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.
Heuristic
A rule-of-thumb or shortcut that simplifies decision-making and problem-solving processes.
Representativeness
Representativeness is a heuristic in decision-making where individuals judge the probability of an event based on how much it resembles a typical case.
Recognition Heuristic
A cognitive shortcut that relies on the recognition of one option over another to make a decision, often used when individuals have limited information.