Question: How we define biases and heuristics? What is their implication in terms of rationality assumption? Are heuristics always result with suboptimal choices? What is the

How we define biases and heuristics? What is their implication in terms of rationality assumption?

Are heuristics always result with suboptimal choices? What is the relation between heuristics and experience?

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Biases and heuristics are cognitive shortcuts or mental processes that help individuals make decisions quickly and efficiently Biases refer to systema... View full answer

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