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Author Question: What is the benefit of using "fast and frugal heuristics"? (Read 57 times)

mpobi80

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on: Oct 8, 2020

Question 1

What is subjective probability?

◦ a personal estimate of what the likelihood of an outcome is
◦ what an outcome is personally worth to an individual
◦ the expected value of an outcome
◦ an individual's willingness to take risks

Question 2

What is the benefit of using "fast and frugal heuristics"?

◦ We tend to have greater confidence in decisions made that way.
◦ We make more accurate decisions than when we use careful reasoning.
◦ There are few benefits to the use of those heuristics, as decision making tends to be very flawed when done rapidly.
◦ We can make decisions very quickly.
Psychology: Themes and Variations ¦ Weiten, McCann ¦ 5th Edition
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Marked as best answer by mpobi80 on Oct 8, 2020

gasdhashg

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Reply #1 on: Oct 8, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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mpobi80

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Reply 2 on: Oct 8, 2020
YES! Correct, THANKS for helping me on my review

kthug

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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