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We rely on mental shortcuts to simplify complex decisions from "summary" of Predictably Rational? by Richard B. McKenzie
As human beings, we often find ourselves faced with complex decisions that require careful consideration and analysis. However, our brains are wired to seek out shortcuts to simplify this process. These mental shortcuts, also known as heuristics, allow us to make quick judgments and decisions without expending too much mental energy. One common mental shortcut that we rely on is the availability heuristic. This heuristic involves making decisions based on information that is easily accessible in our minds. For example, if we recently heard about a plane crash on the news, we may be more likely to believe that flying is a dangerous mode of transportation, even though statistically speaking, it is much safer than driving. Another common mental shortcut is the representativeness heuristic. This heuristic involves making judgments based on how closely something resembles a typical example or prototype. For instance, if we meet someone who fits our idea of what a "successful" person looks like, we may assume that they are indeed successful without considering other factors. While mental shortcuts can be helpful in simplifying complex decisions, they can also lead to errors in judgment. These errors are known as cognitive biases, and they can cause us to make irrational decisions based on faulty reasoning. For example, the confirmation bias leads us to seek out information that confirms our preexisting beliefs while ignoring evidence that contradicts them.- It is important to be aware of these mental shortcuts and cognitive biases. By consciously slowing down our thought processes and considering all relevant information, we can overcome the limitations of our automatic thinking patterns. Ultimately, becoming more aware of our cognitive tendencies can help us make better decisions in both our personal and professional lives.
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