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The value of understanding heuristics in decisionmaking from "summary" of Alchemy by Rory Sutherland
Understanding heuristics is a valuable skill in decision-making. Heuristics are mental shortcuts that allow us to make quick judgments and decisions without having to go through an exhaustive analytical process. They are based on our past experiences, beliefs, and biases, and can sometimes lead us astray. However, heuristics can also be incredibly useful in helping us make efficient decisions in complex and uncertain situations. By understanding heuristics, we can better recognize when they are at play in our decision-making process. This awareness allows us to critically evaluate the validity of our judgments and consider a...
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