Describing heuristics and bias

Reference no: EM1383983

Heuristics are generally identified as "rules of thumb" that we use when making decisions. We evaluate information we already know, events we've already experienced, and actions we've already taken, to help us make quick and efficient decisions. In the heuristic process we make assumptions based on what we know, what we've done and what we've experienced (thus "rules of thumb").

PART 1 - Based upon what you've read and researched; in your stand point, which one of the Heuristics and Bias do you believe is the most commonly used?

PART 2 - What information, facts, or data, did you use in coming to your conclusion (why did you select the heuristic you chose?)

PART 3 - Provide at least one, preferably two examples to support your conclusion?

Reference no: EM1383983

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