Heuristics (Rules of Thumb)
Year: 2010
Type: preprint
Abstract: This chapter provides an overview of heuristics, shortcuts that reduce the search necessary to find a solution to a problem. It notes that initially, studies of heuristics dealt almost exclusively with cognitive processes, but they have come to incorporate emotional factors as well. Heuristics differ from strictly rational modes of choice, endeavoring to take account of choice in real world contexts, and to categorize the deviations from traditional rational choice. The chapter deals with specific as well as general heuristics, including what have been termed fast and frugal heuristics. Attention is given to both the strengths and weaknesses of heuristics.
Source: SSRN Electronic Journal
Author: Hugh Schwartz
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W1962489157