6C Heuristics

Question 1

Heuristics

Answer 1

Heuristics are mental shortcuts that enable us to form judgements, make decisions, and solve problems quickly and efficiently

Question 2

Positives and Negatives of Heuristics

Answer 2

Saves time when making decisions

Decisions are made quickly and thus, can be prone to error

Question 3

Base rate fallacy

Answer 3

The base-rate fallacy is a bias in which judgements are influenced more by vivid experiences than statistical fact

Question 4

Anchoring Heuristic

Answer 4

Anchoring heuristic involves forming judgements based on the first information received about something

Question 5

Availability Heuristic

Answer 5

Availability heuristic enables individuals to form a judgement, solve a problem or make a decision based on information that is easily accessible, including
Past experiences
Memories
Information that they are exposed to in the present moment

Question 6

Representative

Answer 6

The representative heuristic involves making a categorical judgement about an idea, event or person based on their similarity to other items in that category

Question 7

Affect Heuristic

Answer 7

The affect heuristic involves using our current emotions to make a judgement or decision