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Fast and Frugal Cognitive Heuristics
Fast and frugal heuristics are used during the decision-making process when understanding of the situation and the time and cognitive power needed to make the decision is limited (bounded rationality).
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Psychology
Social Science
Empirical Science
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Representative heuristic
Self-Based Heuristic (SBH)
Affect Heuristic
Bandwagon Heuristic
Endorsement Heuristic
Working Backwards
Availability Heuristic
Substituting Questions (Heuristic Questions)
Anchoring
Task Decomposition Heuristic
After watching extensive news coverage of a rare but dramatic lottery win in their city, a person starts spending a significant portion of their income on lottery tickets. Despite statistical evidence showing the odds are astronomically low, the vivid, recent example of a winner makes the possibility feel much more likely. Which mental shortcut best explains this person's change in behavior?
Stereotype
Related
Representative heuristic
Self-Based Heuristic (SBH)
Affect Heuristic
Bandwagon Heuristic
Endorsement Heuristic
Working Backwards
Availability Heuristic
Substituting Questions (Heuristic Questions)
Anchoring
Task Decomposition Heuristic
After watching extensive news coverage of a rare but dramatic lottery win in their city, a person starts spending a significant portion of their income on lottery tickets. Despite statistical evidence showing the odds are astronomically low, the vivid, recent example of a winner makes the possibility feel much more likely. Which mental shortcut best explains this person's change in behavior?
Stereotype