It is essential that people make judgments and inferences in the world that we live. (Hayibor & Wasielski,2009) A heuristicis a” rule of thumb common sense judgment that is intuitive”; these judgments are made towards objects (Gilovich & Griffin,2010). Decision making is a part of people and cognition(Gilovich & Griffin,2010). People make a decision that leads to choices in relationships, friends, and even which routes to take to work(Gilovich & Griffin,2010). There are three categories of heuristics; availability, representativeness, and anchoring(Gilovich & Griffin,2010). Research has shown that heuristic is a biased aspect.
Availability heuristic consists of the prior schema, and therefore mental shortcuts are assessed from memory(Gilovich & Griffin,2010). According to Gilovich and Griffin(2010), the premise of the availability heuristic is the “tendency to use the ease which a person can generate examples as a cue to category size or likelihood”(p.546). For example, if asked the employees that generate the most work, I can give an estimate without actually pulling data from work performed. I find it interesting that if a person buys a red car, he then notices all the red cars and especially the model that he purchased. There are no more red cars on the highway than before; the individual has stored his red vehicle in memory, and when he notices a car in his category(make, color) he makes an assessment based on probability.
Forecasting and Planning
Matriculating through this program takes planning and re-evaluating goals and resetting and resetting them again as the weeks progress. According to Kahneman and Tversky (1979), preparation is made from an inside perspective, therefore; judgment can be off, not account for things that might go wrong. Accurately assessing what it will take to complete the dissertation and make necessary adjustments.
Advantages and disadvantages of heuristic I used
I chose forecasting and planning, and availability as a heuristic that I have engaged in. There are advantages and disadvantages to using any heuristic. The main advantage is the solution is quick without using much mental processing; because I categorize and forming an assessment based on the previous schema. The disadvantage is faulty and biases outcomes. Many times availability is not accurate information. When planning, and making predictions about a project, it should be well thought out and not just optimistic bias.
Gilovich.D., & Griffin, W. (2010).Judgment and Decision Making. Fiske, S., Gilbert, T., & Lindzey, G. In The Handbook of Social Psychology, Volume1,(5th edition)., Hoboken, N.J: John Wiley & Sons, Inc.
Hayibor, S., & Wasielski, M. (2009). Effects of the use of the availability heuristic oi ethical decision making in organizations. Journal of Business Ethics, 84(Suppl. 1), 151–165. Retrieved from the Walden Library using the PsycINFO database.