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DECISION MAKING HEURISTICS Q1) (Discussion) Using your own words (don\'t just cu

ID: 3461309 • Letter: D

Question

DECISION MAKING HEURISTICS Q1) (Discussion) Using your own words (don't just cut and paste from the text or notes), describe and discuss what is a heuristic. What are they and why do people use them? How does their use affect cognitive workload and decision-making? In class (and in the text) we discussed nine types of heuristics: representativeness, availability, recognition, do-what-the-majority-do, default, overconfidence, anchoring & adjustment, confirmation and framing effects. Provide your own examples for each (again, don't just repeat what is in the notes, put some thought into coming up with unique examples) and discuss the design implications for each heuristic. In other words, how these heuristics might be leveraged to facilitate decision-making or in the case of the heuristic having an undesirable effect such as overconfidence - how a design of the system can be used to counteract that effect. Provide examples as necessary

Explanation / Answer

A heuristic is a 'rule of thumb' or a 'mental shortcut' that is used for solving problems or making decisions quickly. Heuristics are practical and based on past experiences. People often use heuristics in circumstances where an immediate decision is required. However, they are not guaranteed to be optimal or perfect. This is because heuristics usually involve focusing on one aspect of a complex problem and ignoring others. This reduced the potential cognitive workload required to solve the problem, thereby facilitating the speed of decision making.

Please post the other questions separately as we are supposed to answer just one question or four subparts of a single question.