Heuristics and biases refer to psychological processes used by individuals for decision-making under conditions of uncertainty. Heuristics are mental shortcuts that simplify complex problems, but biases can arise from these shortcuts and lead to errors in judgment.
From a cognitive psychology standpoint, heuristics are mental shortcuts used for problem-solving and decision-making. Biases emerge from the systematic errors these heuristics can produce, affecting judgment.
Tversky and Kahneman’s work is foundational, illustrating how heuristics like availability, representativeness, and anchoring lead to predictable biases in judgment and decision-making processes.