This particular heuristic sets a standard of rationality based on a number of factors and then makes decisions based on this criteria.This type of decision making is often in environments in which there are often less that optimum solutions.
A)conjunction fallacy
B)fast-and-frugal heuristic
C)take-the-best heuristic
D)hot hand

Question

Quizplus · Accepted Answer

The fast-and-frugal heuristic is a decision-making strategy that uses simple rules to make decisions quickly and efficiently, often in situations where optimal solutions are not available.

This Particular Heuristic Sets a Standard of Rationality Based on a Number