What are the different types of heuristics and how do they compare?

What are the different types of heuristics used in problem-solving?

Heuristics are mental shortcuts that help in decision-making. Common types include availability, representativeness, and anchoring heuristics.

Can you explain the availability heuristic with an example?

Sure! The availability heuristic is when people judge the likelihood of an event based on how easily examples come to mind. For instance, after seeing news reports about airplane accidents, someone might overestimate the danger of flying.

How does the representativeness heuristic differ from the availability heuristic?

The representativeness heuristic involves judging the probability of an event based on how similar it is to a prototype. In contrast, the availability heuristic relies on immediate examples that come to mind.

What are some real-world applications of these heuristics?

These heuristics are used in various fields, including marketing, finance, and healthcare, to predict consumer behavior, assess risks, and make decisions under uncertainty.