ELI5: Explain Like I'm 5

Heuristics in judgment and decision-making

Heuristics are rules of thumb that people use to help them make decisions. When we make decisions, we usually have a lot of information to think about and it can be hard to decide which one is right. Heuristics can help us make decisions quickly by simplifying the process. Heuristics can help us narrow down our choices and identify the best option. For example, if you are looking for a new job, you might use a heuristic such as "I'll only consider jobs that pay more than my current job". This heuristic helps you narrow down your search by eliminating jobs that don't meet your criteria. Heuristics can help us make quick decisions and save time, but they can also lead to mistakes if they are not applied correctly.