Decision heuristics automatically distort either the probability of outcomes or the value (utility) of those outcomes.

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Decision heuristics are mental shortcuts or rules that individuals use to make decisions. However, these heuristics can often lead to biases and distortions in the decision-making process, including either underestimating or overestimating the probability of outcomes and inflating or deflating the value (utility) of those outcomes.

Decision Heuristics Automatically Distort Either the Probability of Outcomes or the Value