The Upside of Heuristics and Biases

Abstract

This chapter explores the positive impacts of heuristics and biases by highlighting their essential roles in human survival and adaptation. While previous chapters focused on the negative aspects of these cognitive mechanisms, this chapter emphasizes their benefits in efficient and effective decision-making. It discusses how System 1 provides quick, cost-effective, and near-optimal solutions for daily challenges. Examples illustrate how heuristics like availability, myopia, and loss aversion aid in practical decision-making. This chapter also examines the role of emotions and optimism in enhancing our cognitive processes and resilience.

Citation

Yıldırım, A. (2024), "The Upside of Heuristics and Biases", Behavioral Economics in Healthcare, Emerald Publishing Limited, Leeds, pp. 73-80. https://doi.org/10.1108/978-1-83662-080-820241004