{"id":3824,"date":"2019-03-13T10:59:21","date_gmt":"2019-03-13T10:59:21","guid":{"rendered":"https:\/\/www.stl-training.co.uk\/b\/?p=3824"},"modified":"2023-12-31T01:54:13","modified_gmt":"2023-12-31T01:54:13","slug":"heuristics-improve-decision-making","status":"publish","type":"post","link":"https:\/\/www.stl-training.co.uk\/b\/heuristics-improve-decision-making\/","title":{"rendered":"How Heuristics can improve your Decision Making"},"content":{"rendered":"

Decision making \u2013 is it mind over matter?<\/strong><\/p>\n

How can we decide?<\/strong><\/h3>\n
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Decision making can be difficult, so use heuristics to help<\/figcaption><\/figure>\n

German psychologist, Gerd Gigerenzer, <\/a>identified \u2018heuristics\u2019<\/em> as tools for smart decision making in times of uncertainty. Allied to intuition, he argues, it is the subconscious mind which decides what our choice will be, given the overwhelming number of options available to us.<\/p>\n

What are heuristics?<\/strong><\/h3>\n

Heuristics are an efficient, cognitive process, conscious or unconscious, which tend to ignore part of the information available to us. This saves time and effort when making decisions. Some believe that this implies a greater degree of error than those decisions made by \u2018reason\u2019. They will ask when the rational models are not being met, \u201cwhich heuristics are being used in which situation? (for there are many)<\/em>\u201d and \u201cwhen should people rely on a given heuristic rather than on a complex strategy to solve problems?<\/em>\u201d<\/p>\n

Gigerenzer reviewed research, testing formal models of heuristic inference,<\/a> including those in business organisations, healthcare, and legal institutions. This research indicated that individuals and organisations often rely on simple heuristics in an adaptive way. By ignoring part of the information, we are led to more accurate judgements.<\/p>\n

How heuristics sway your decisions?<\/strong><\/h3>\n

Big business uses these filter methods, becoming adept at marketing that will urge<\/em> us to make a decision in their favour. Usually by adding an option which the mind will have to dismiss. For example:<\/p>\n

a) overwhelming in choices to be made<\/p>\n

b) not at all useful when compared to the other choices<\/p>\n

Dan Ariely<\/a> explains this in more detail in his video:<\/p>\n

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Are we in control of our decisions? | Dan Ariely<\/div><\/div>
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