Use of heuristics: Insights from forecasting research

  title={Use of heuristics: Insights from forecasting research},
  author={Nigel Harvey},
  journal={Thinking \& Reasoning},
  pages={24 - 5}
  • N. Harvey
  • Published 1 February 2007
  • Business
  • Thinking & Reasoning
Tversky and Kahneman (1974) originally discussed three main heuristics: availability, representativeness, and anchoring-and-adjustment. Research on judgemental forecasting suggests that the type of information on which forecasts are based is the primary factor determining the type of heuristic that people use to make their predictions. Specifically, availability is used when forecasts are based on information held in memory; representativeness is important when the value of one variable is… 

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