Fast and Frugal Heuristics
Decision-making strategies that use simple heuristics to make quick, efficient, and satisfactory choices with limited information.
49 topics found for
“quick decisions”
Heuristic
A rule-of-thumb or shortcut that simplifies decision-making and problem-solving processes.
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.
System One
A mode of thinking, derived from Dual Process Theory, that is fast, automatic, and intuitive, often relying on heuristics and immediate impressions.
OODA Loop
Observe, Orient, Decide, and Act (OODA) is a decision-making framework often used in strategic planning and rapid response situations.
Rapid Experimentation
The practice of quickly testing and iterating on ideas to validate assumptions and learn from user feedback in a short time frame.
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.
Hick’s Law
A principle that states the time it takes to make a decision increases with the number and complexity of choices available.
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.