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.
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.
Observe, Orient, Decide, and Act (OODA) is a decision-making framework often used in strategic planning and rapid response situations.
A cognitive bias where individuals overestimate the likelihood of extreme events regressing to the mean.
A cognitive bias where decision-making is affected by the lack of information or uncertainty.
Decision-making strategies that use simple heuristics to make quick, efficient, and satisfactory choices with limited information.
A cognitive bias where the total probability assigned to a set of events is less than the sum of the probabilities assigned to each event individually.
A state of overthinking and indecision that prevents making a choice, often due to too many options or uncertainty.
A theory in economics that models how rational individuals make decisions under risk by maximizing the expected utility of their choices.
A method used to create detailed narratives of potential future events to explore and understand possible outcomes and inform decision-making.