heuristic (in psychology)

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Wikipedia: 

heuristic

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Psychology

In psychology, heuristics are simple, efficient rules, hard-coded by evolutionary processes or learned, which have been proposed to explain how people make decisions, come to judgments, and solve problems, typically when facing complex problems or incomplete information. These rules work well under most circumstances, but in certain cases lead to systematic cognitive biases.

For instance, people may tend to perceive more expensive beers as tasting better than inexpensive ones (providing the two beers are of similar initial quality or lack of quality and of similar style). This finding holds true even when prices and brands are switched; putting the high price on the normally relatively inexpensive brand is enough to lead subjects to perceive it as tasting better than the beer that is normally more expensive. One might call this "price implies quality" bias. (Cf. Veblen good.)

Much of the work of discovering heuristics in human decision-makers was ignited by Amos Tversky and Daniel Kahneman^[3]. Gerd Gigerenzer focus on how heuristics can be used to make judgments that are in principle accurate, rather than producing cognitive biases – heuristics that are "fast and frugal".^[4]

Theorized psychological heuristics

Well known:

• Anchoring and adjustment
• Availability heuristic
• Representativeness heuristic

Less well known:

Affect heuristic Contagion heuristic Effort heuristic Familiarity heuristic Fluency heuristic

Gaze heuristic Peak-end rule Recognition heuristic Scarcity heuristic Similarity heuristic