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.
4 topics found for
“judgment under uncertainty”
Regressive Bias
A cognitive bias where individuals overestimate the likelihood of extreme events regressing to the mean.
Subadditivity Effect
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.
Fast and Frugal Heuristics
Decision-making strategies that use simple heuristics to make quick, efficient, and satisfactory choices with limited information.