Decisions can be influenced by heuristics, in particular the representative heuristic, the availability heuristic and the anchoring and adjustment heuristic.
In this Assignment you are going to provide three different examples of real-world situations where a person might use the each of these heuristics to make a decision. You will describe the thought processes involved in using each heuristic to make a decision, using the examples you provided. Finally, you will discuss whether you think each heuristic would lead to a good or bad decision in the examples you provided.
Requirements for this Assignment:
The guidelines for your paper are as follows:
A title page, introduction with thesis statement and conclusion.
Provide an example of a real-world situation where a person might use the representative heuristic to make a decision.
Using your example, describe the thought processes involved in using the representative heuristic to make a decision. Discuss whether you think the representative heuristic would lead to a good or bad decision in the example you provided.
Provide an example of a real-world situation where a person might use the availability heuristic to make a decision. Using your example, describe the thought processes involved in using the availability heuristic to make a decision. Discuss whether you think the availability heuristic would lead to a good or bad decision in the example you provided.
Provide an example of a real-world situation where a person might use the anchoring and adjustment heuristic to make a decision. Using your example, describe the thought processes involved in using the anchoring and adjustment heuristic to make a decision. Discuss whether you think the anchoring and adjustment heuristic would lead to a good or bad decision in the example you provided.
Your paper should be 2–3 pages, not including the title page or reference page.
Your paper should include a reference to the textbook and at least one additional credible academic resource.
Your paper must be APA formatted, including references, title page, 1” margins on all sides, 12 point font size, and double spacing. Information regarding APA formatting and citation can be found in the Writing Center and should be reviewed thoroughly.