Views and rational behaviour Flashcards
1
Q
Anchoring Heuristic
A
Mental shortcuts where designs are made by comparing to a nearby reference point
2
Q
Availability Heuristic
A
mental shortcuts that can influence decision making based on recent experiences
3
Q
Bounded rationality
A
When economic agents do the best they can with the given information
4
Q
Default Heuristic
A
Mental shortcut where decisions are based on presented default options as calculations are too complex
