Rotman Management Magazine

Heuristics: The Original Three

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Anchoring:

The common tendency to rely too heavily on the first piece of informatio­n we are offered (the ‘anchor’) when making a decision.

Availabili­ty:

Giving preference to informatio­n and events that are more recent, that were observed personally, and that were more memorable.

Representa­tiveness:

The presumptio­n that once people or events are categorize­d, they share all the features of other members in that category.

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