Asked by
Buttered Toast
on Oct 08, 2024Verified
According to behavioral economists,the human brain:
A) makes most decisions based on careful calculation of benefits and costs.
B) uses evolutionary-developed heuristics to make many decisions.
C) only develops heuristics for decision making after the same decision has been made multiple times using a rational framework of comparing benefits and costs.
D) employs heuristics in decision making that are slow but generally error-free.
Evolutionary-Developed Heuristics
Decision-making shortcuts or rules of thumb that have evolved over time to facilitate complex problem-solving with efficiency.
Rational Framework
A systematic approach based on reason and logic, often used in decision-making processes to ensure outcomes are logically derived.
Decision Making
The cognitive process of selecting a course of action among various alternatives, often involving a balance of risk and reward.
- Recognize the influence of heuristics and cognitive biases on decision-making processes.
Verified Answer
SL
Learning Objectives
- Recognize the influence of heuristics and cognitive biases on decision-making processes.