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We tend to rely on heuristics instead of careful analysis from "summary" of Predictably Rational? by Richard B. McKenzie
In our daily lives, we often find ourselves making quick decisions based on simple rules of thumb rather than carefully analyzing all the available information. These mental shortcuts, known as heuristics, allow us to make decisions more efficiently by reducing the cognitive load of processing every detail. However, relying solely on heuristics can lead to biases and errors in judgment. We may overlook important information or fall victim to cognitive traps when we fail to scrutinize our decisions more thoroughly. This tendency to take shortcuts in our thinking can have significant consequences, especially when making important choices that require careful consideration. The allure of heuristics lies in their ability to simplify complex problems and provide a quick solution. They offer a way to navigate the overwhelming amount of information we encounter daily and make decisions more manageable. Yet, this convenience comes at a cost – the risk of over...
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