Definition: Heuristics is set of experience-based 'rules' or arguments used in problem solving, decision making, learning and discovery.
H are strategies using readily accessible, though loosely applicable, rules to control problem solving in human beings and machines rather than rational reasoning.
Examples of this method include trial and error, using a rule of thumb, an educated guess, an intuitive judgment, or common sense. H are neccesary because of bounded rationality.
These rules work well under most circumstances, but in certain cases lead to systematic errors due to cognitive biases.



More on heuristics. More on problem solving: Catch-22, Evaporating Cloud, Hypothesis Testing, Intuition, Kepner-Tregoe, more...


© 2020 MBA Brief - Last updated: 29-3-2020  -  Privacy   |   Terms