Heuristics and Biases

Heuristics are mental shortcuts that help people make quick decisions or solve problems efficiently. However, these shortcuts can lead to systematic errors, known as biases. For example, when judging the likelihood of events, people might rely on vivid memories (availability heuristic) rather than actual statistics. This can result in overestimating rare events like plane crashes while underestimating more common risks. Understanding heuristics and biases helps us recognize how our thinking can be flawed and encourages more informed decision-making in everyday life.