Heuristics are mental shortcuts or rules of thumb that we use to make decisions quickly and efficiently. They are often based on past experiences and can be useful in many everyday situations. Here are some real-world examples of heuristics:
1. Availability heuristic: This is the tendency to rely on easily available information when making decisions. For example, if you hear about a plane crash on the news, you may become fearful of flying, even though statistically, it is safer than driving.
2. Representativeness heuristic: This is the tendency to make judgments based on how well something matches a particular prototype or stereotype. For example, if you see someone wearing a lab coat and carrying a clipboard, you may assume they are a scientist.
3. Anchoring and adjustment heuristic: This is the tendency to rely too heavily on the first piece of information encountered when making decisions. For example, if you are negotiating the price of a car, the initial offer may set an anchor that influences your final decision.
4. Confirmation bias: This is the tendency to seek out information that confirms our existing beliefs and ignore information that contradicts them. For example, if you are convinced that a certain political candidate is the best choice, you may only pay attention to positive news stories about them.
5. Sunk cost fallacy: This is the tendency to continue investing in a project or decision based on the resources already invested, even if it no longer makes sense to do so. For example, if you have already spent a lot of money on a car repair, you may feel obligated to continue repairing it even if it would be more cost-effective to buy a new car.
Overall, heuristics can be helpful in many situations but can also lead to errors in judgment. By being aware of these mental shortcuts, we can make more informed decisions and avoid common pitfalls.