Heuristics and Biases

Definition

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.

Theoretical Perspectives

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.

Study And Research Findings

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.

Related terms

Representativeness Heuristic:

A heuristic where people make judgments based on how closely something resembles a typical example or prototype.

Availability Heuristic:

This heuristic involves estimating the likelihood of an event based on how easily examples come to mind.

Framing Effect: The framing effect is an example of how different presentations of the same information can influence people's decisions or judgments.