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Gigerenzer & Gaissmaier (2011) state that sub-sets of strategy include heuristics, regression analysis, and Bayesian inference. [14]A heuristic is a strategy that ignores part of the information, with the goal of making decisions more quickly, frugally, and/or accurately than more complex methods (Gigerenzer and Gaissmaier [2011], p. 454; see also Todd et al. [2012], p. 7).
According to this theory, when somebody makes a judgment (of a target attribute) which is computationally complex, a rather more easily calculated heuristic attribute is substituted. [100] In effect, a difficult problem is dealt with by answering a rather simpler problem, without the person being aware this is happening. [97]
Heuristic processing is related to the concept of "satisficing." [8] Heuristic processing is governed by availability, accessibility, and applicability. Availability refers to the knowledge structure, or heuristic, being stored in memory for future use. Accessibility of the heuristic applies to the ability to retrieve the memory for use.
Some heuristics have a strong underlying theory; they are either derived in a top-down manner from the theory or are arrived at based on either experimental or real world data. Others are just rules of thumb based on real-world observation or experience without even a glimpse of theory.
The representativeness heuristic is simply described as assessing similarity of objects and organizing them based around the category prototype (e.g., like goes with like, and causes and effects should resemble each other). [2] This heuristic is used because it is an easy computation. [4]
Due to the availability heuristic, names that are more easily available are more likely to be recalled, and can thus alter judgments of probability. [31] Another example of the availability heuristic and exemplars would be seeing a shark in the ocean. Seeing a shark has a greater impact on an individual's memory than seeing a dolphin.
The affect heuristic is a heuristic, a mental shortcut that allows people to make decisions and solve problems quickly and efficiently, in which current emotion—fear, pleasure, surprise, etc.—influences decisions. In other words, it is a type of heuristic in which emotional response, or "affect" in psychological terms, plays a lead role. [1]
Under this theory, cooperating in everyday social situations tends to be successful, and as a result, cooperation is an internalized heuristic that is applied in unfamiliar social contexts, even those in which such behavior may not lead to the most personally advantageous result for the actor (such as a lab experiment).