What is Heuristics?
Heuristics are mental shortcuts that mainly people agree on while taking a decision. They are mainly short term thumb rules. In the 1970s, two researchers â€“ namely Amos Tversky and Daniel Kahneman developed a theory on cognitive biases. They believed that heuristics create a sense of deviation from logic, probability, and rationality. They both believed that heuristics can sway peopleâ€™s judgment capacity and influence decisions thus made. Though, the heuristics shorten the time of judgment and decision making for people. It becomes justified to some extent due to their thumb rule for example â€“ all flowers smell good so use any for the decoration. There can be some flowers that have no fragrance at all. Heuristics have a significant impact on decision making and judgments. While going through difficulty in deciding which alternative would be better for solving a problem, people mostly rely on these mental shortcuts for a fast resolution. Effort reduction: heuristics reduce the effort required in problem-solving leading to cognitive laziness in people. People donâ€™t think much and just make decisions based on the available heuristics.
Heuristics sometimes help in making fast decisions for example â€“ one has to travel on a high traffic road at peak traffic hours to a congested market area, the heuristic available is that the road is congested and better to go on a two-wheeler than a car as two-wheeler gets easy parking. Heuristics help in making decisions swiftly and solve with good judgment of all the probabilities.
Types of Heuristics:
Availability Heuristicâ€“ it is the probability of an event to occur which leads to ideas come to mind while making a decision. When people judge the probability of an event to occur based on its frequency, they use the availability heuristic in making their decisions. For example â€“ you plan to go to a movie by bunking a strict professorâ€™s class. The decision will be made based on how frequently the professor comes to class. If for the past week, the professor only gave one class out of six, the availability heuristic will make you bunk the class easily. The judgment made is he isnâ€™t coming to class. The decision can be easily made to bunk the class.
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