Decision Making and Problem Solving Flashcards
1
Q
What does Availability Heuristic mean?
A
Assessing the likelihood of an event based on how readily examples come to mind.
2
Q
What does Representativeness Heuristic mean?
A
Making decisions based on how closely an option matches a known prototype or stereotype.
3
Q
What does Anchoring & Adjustment Heuristic mean?
A
Using initial information as reference point and adjusting from there to reach a decision.
4
Q
What does Satisficing mean?
A
Settling for an option that meets minimum criteria rather than pursuing optimal solution.
5
Q
What are the factors that influence intuition?
A
- Expertise and Experience
- Emotional Intelligence
- Cognitive Biases
6
Q
What is the role of intuition?
A
- Rapid Decision Making
- Complex Decision Solving
- Pattern Recognition
7
Q
What are the roles of heuristics?
A
- Efficiency
- Resource Management
- Problem Framing
