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Unveiling Heuristic Biases in Decision Making
This chapter explores various heuristics in psychology introduced by researchers in the 70s, including the availability heuristic, anchoring heuristic, and representativeness heuristic. It delves into how individuals make decisions and estimates based on biased information and mental anchoring, showcasing examples and studies to illustrate these concepts. The discussion highlights the tendency of people to rely on mental shortcuts that can lead to errors in judgment, even among experts in various fields.