What is Heuristic?
Heuristic is a problem-solving approach or technique that uses practical and intuitive methods to find a solution quickly, even if it may not be the most optimal or accurate. It involves using rules of thumb, educated guesses, or past experiences to make decisions.
Types of Heuristic
- Availability Heuristic – basing decisions on what comes to mind easily
- Representativeness Heuristic – making decisions based on how similar something is to a prototype
- Anchoring Heuristic – relying heavily on the first piece of information encountered
Examples of Heuristic
Consider a person judging the likelihood of a plane crash based on the recent news coverage (availability heuristic). Another example is a person assuming that a new restaurant is good because it looks fancy (representativeness heuristic).
Case Studies
In a study, participants were asked to estimate the number of African countries in the United Nations. Those who were asked if there were more or less than 10 countries gave significantly different estimates compared to those who were asked if there were more or less than 65 countries.
Statistics on Heuristic
Research shows that heuristic decision-making can lead to biases and errors, but it is often a necessary approach in situations where time and resources are limited. In fact, studies have found that people use heuristics in a variety of domains such as finance, healthcare, and even daily decision-making.
Heuristic provides a valuable shortcut in decision-making, but it is important to be aware of its limitations and potential pitfalls. By understanding how heuristic works and when it can lead us astray, we can make more informed decisions in our lives.
