Heuristics

Heuristics, Algorithms,
Anchoring, Representativeness, & Availability
Tversky and Kahneman (1974)

​Step-by-step cognitive processes that will eventually lead to a solution or answer.
Similar to looking down every aisle until you get to the product you desire.

Algorithms

​Quicker cognitive processes that may or may not lead to a correct answer or solution.
Similar to going directly to the meat aisle, looking for frozen meatballs. You may be right or terribly wrong.

​​Heuristics

Begins with a statement or suggestion to influence a person's subsequent decision.
Ex. Suggesting Biden is over 150 years old will produce a higher-aged answer.

​150 years is the Anchor and your answer is the adjustment.

​Anchoring & Adjustment

Open Ended

How can we mitigate the effects of Anchoring and Adjustment?

Occurs when people mistake representativeness for likelihood or probability.

Ex. Thinking a bulked-up man is a pro athlete, when it is more statistically reasonable that he is just a "Gym Rat"

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Representativeness

Open Ended

How can the representativeness heuristic lead to errors in judgment?

Tversky and Kahneman (1974) defines this as the ease with which examples come to one's mind.

Ex. If several family members in their 50s have heart disease, then one thinks all people in their 50s will have heart disease.

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​Availability

Open Ended

How can Availability cause errors in judgement and lead to over-generalizing?

Match

Match the following

• Applying a generalization based on limited experience or information

• Begins with a statement to illicit a specific range of answers

• Step-by-step problem-solving

• Over-generalizing based on superficial observations

• Cognitive shortcuts that can lead to errors

Availability

Anchoring and Adjustment

Algorithms

Representativeness

Heuristics

• Availability

• Anchoring and Adjustment

• Algorithms

• Representativeness

• Heuristics