What are Heuristics and Biases?
Heuristics are “rules of thumb”, cognitive strategies people use to make selections in the face of data overload. For example, an employer might use the heuristic “long hair means the person is a flake” while making hiring decisions. As in the case of the previous example, heuristics don’t always work effectively. Some heuristics lead to systematic errors that can be experimentally isolated — hence they are labeled biases.
Heuristics are “rules of thumb”, cognitive strategies people use to make selections in the face of data overload. For example, an employer might use the heuristic “long hair means the person is a flake” while making hiring decisions. As in the case of the previous example, heuristics don’t always work effectively. Some heuristics lead to systematic errors that can be experimentally isolated — hence they are labeled biases. The most common and illustrative example of a systematic bias is to overassign probabilities to conjunctions. Try the following: Linda is 31, single, outspoken, and very bright. She majored in philosophy in college. As a student, she was deeply concerned with discrimination and other social issues, and participated in anti-nuclear demonstrations. Which statement is more likely?
