The Science of Decision-Making: Heuristics

Every day we use our brains to interact with other people, solve problems and make decisions. Every decision we make has a potential impact on our next decision. A certain decision, and the outcome that follows, could stick with you long after the decision was made and unconsciously determine your next. To make decision-making more efficient, your brain creates mental shortcuts to help you make the right decision faster. These mental shortcuts are called heuristics, and are a main theme of behavioral economics. Heuristics are deviations from rationality formed by previous experiences. Instead of relying on the information at hand Continue reading The Science of Decision-Making: Heuristics