A decision-making procedure resulting from limited time and attention is called __________.
A) heuristics.
B) convexity.
C) volatility.
D) anomalies.
E) bias effect.

Question

Quizplus · Accepted Answer

Heuristics are mental shortcuts or rules of thumb that simplify decision-making processes, especially under conditions of limited time and information. They help individuals make quick decisions without having to analyze all available information in depth.

A Decision-Making Procedure Resulting from Limited Time and Attention Is