________,also known as simple rules of thumb,are often used by individuals to make decisions.
A)Bounded rationality
B)Syntax
C)Folksonomies
D)Intuition
E)Heuristics

Question

Quizplus · Accepted Answer

Heuristics are simple rules of thumb that people use when making decisions in situations of uncertainty or complexity. They are often used as a way to simplify decision making, conserve mental energy, and avoid information overload. Examples of heuristics include the availability heuristic (relying on easily accessible information), the representativeness heuristic (assigning probabilities based on how similar something is to a prototype), and the anchoring and adjustment heuristic (starting with an initial value and adjusting it based on new information).

________,Also Known as Simple Rules of Thumb,are Often Used by Individuals