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Heuristic
A heuristic or heuristic technique (''problem solving'', '' mental shortcut'', ''rule of thumb'') is any approach to problem solving that employs a pragmatic method that is not fully optimized, perfected, or rationalized, but is nevertheless "good enough" as an approximation or attribute substitution. Where finding an optimal solution is impossible or impractical, heuristic methods can be used to speed up the process of finding a satisfactory solution. Heuristics can be mental shortcuts that ease the cognitive load of making a decision. Context Gigerenzer & Gaissmaier (2011) state that sub-sets of ''strategy'' include heuristics, regression analysis, and Bayesian inference. Heuristics are strategies based on rules to generate optimal decisions, like the anchoring effect and utility maximization problem. These strategies depend on using readily accessible, though loosely applicable, information to control problem solving in human beings, machines and abstract i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heuristic (psychology)
Heuristics (from Ancient Greek εὑρίσκω, ''heurískō'', "I find, discover") is the process by which humans use mental shortcuts to arrive at decisions. Heuristics are simple strategies that humans, animals, organizations, and even machines use to quickly form judgments, make decisions, and find solutions to complex problems. Often this involves focusing on the most relevant aspects of a problem or situation to formulate a solution. While heuristic processes are used to find the answers and solutions that are ''most'' likely to work or be correct, they are not always right or the most accurate. Judgments and decisions based on heuristics are simply good enough to satisfy a pressing need in situations of uncertainty, where information is incomplete. In that sense they can differ from answers given by logic and probability. The economist and cognitive psychologist Herbert A. Simon introduced the concept of heuristics in the 1950s, suggesting there were limitations to rat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dual Process Theory
In psychology, a dual process theory provides an account of how thought can arise in two different ways, or as a result of two different processes. Often, the two processes consist of an implicit (automatic), unconscious process and an explicit (controlled), conscious process. Verbalized explicit processes or attitudes and actions may change with persuasion or education; though implicit process or attitudes usually take a long amount of time to change with the forming of new habits. Dual process theories can be found in social, personality, cognitive, and clinical psychology. It has also been linked with economics via prospect theory and behavioral economics, and increasingly in sociology through cultural analysis. History The foundations of dual process theory are probably ancient. Spinoza (1632-1677) distinguished between the passions and reason. William James (1842-1910) believed that there were two different kinds of thinking: associative and true reasoning. James theorized ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Attribute Substitution
Attribute substitution is a psychological process thought to underlie a number of cognitive biases and perceptual illusions. It occurs when an individual has to make a judgment (of a ''target attribute'') that is computationally complex, and instead substitutes a more easily calculated '' heuristic attribute''. This substitution is thought of as taking place in the automatic ''intuitive'' judgment system, rather than the more self-aware ''reflective'' system. Hence, when someone tries to answer a difficult question, they may actually answer a related but different question, without realizing that a substitution has taken place. This explains why individuals can be unaware of their own biases, and why biases persist even when the subject is made aware of them. It also explains why human judgments often fail to show regression toward the mean. The theory of attribute substitution unifies a number of separate explanations of reasoning errors in terms of cognitive heuristics. In tu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mathematical Optimisation
Mathematical optimization (alternatively spelled ''optimisation'') or mathematical programming is the selection of a best element, with regard to some criteria, from some set of available alternatives. It is generally divided into two subfields: discrete optimization and continuous optimization. Optimization problems arise in all quantitative disciplines from computer science and engineering to operations research and economics, and the development of solution methods has been of interest in mathematics for centuries. In the more general approach, an optimization problem consists of maximizing or minimizing a real function by systematically choosing input values from within an allowed set and computing the value of the function. The generalization of optimization theory and techniques to other formulations constitutes a large area of applied mathematics. Optimization problems Optimization problems can be divided into two categories, depending on whether the variables ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Algorithm
In mathematics and computer science, an algorithm () is a finite sequence of Rigour#Mathematics, mathematically rigorous instructions, typically used to solve a class of specific Computational problem, problems or to perform a computation. Algorithms are used as specifications for performing calculations and data processing. More advanced algorithms can use Conditional (computer programming), conditionals to divert the code execution through various routes (referred to as automated decision-making) and deduce valid inferences (referred to as automated reasoning). In contrast, a Heuristic (computer science), heuristic is an approach to solving problems without well-defined correct or optimal results.David A. Grossman, Ophir Frieder, ''Information Retrieval: Algorithms and Heuristics'', 2nd edition, 2004, For example, although social media recommender systems are commonly called "algorithms", they actually rely on heuristics as there is no truly "correct" recommendation. As an e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rationality
Rationality is the quality of being guided by or based on reason. In this regard, a person acts rationally if they have a good reason for what they do, or a belief is rational if it is based on strong evidence. This quality can apply to an ability, as in a rational animal, to a psychological process, like reasoning, to mental states, such as beliefs and intentions, or to persons who possess these other forms of rationality. A thing that lacks rationality is either ''arational'', if it is outside the domain of rational evaluation, or '' irrational'', if it belongs to this domain but does not fulfill its standards. There are many discussions about the essential features shared by all forms of rationality. According to reason-responsiveness accounts, to be rational is to be responsive to reasons. For example, dark clouds are a reason for taking an umbrella, which is why it is rational for an agent to do so in response. An important rival to this approach are coherence-based ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decision-making
In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the Cognition, cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be either Rationality, rational or irrational. The decision-making process is a reasoning process based on assumptions of value (ethics and social sciences), values, preferences and beliefs of the decision-maker. Every decision-making process produces a final choice, which may or may not prompt action. Research about decision-making is also published under the label problem solving, particularly in European psychological research. Overview Decision-making can be regarded as a Problem solving, problem-solving activity yielding a solution deemed to be optimal, or at least satisfactory. It is therefore a process which can be more or less Rationality, rational or Irrationality, irrational and can be based on explicit knowledge, explicit or tacit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Problem Solving
Problem solving is the process of achieving a goal by overcoming obstacles, a frequent part of most activities. Problems in need of solutions range from simple personal tasks (e.g. how to turn on an appliance) to complex issues in business and technical fields. The former is an example of simple problem solving (SPS) addressing one issue, whereas the latter is complex problem solving (CPS) with multiple interrelated obstacles. Another classification of problem-solving tasks is into well-defined problems with specific obstacles and goals, and ill-defined problems in which the current situation is troublesome but it is not clear what kind of resolution to aim for. Similarly, one may distinguish formal or fact-based problems requiring G factor (psychometrics), psychometric intelligence, versus socio-emotional problems which depend on the changeable emotions of individuals or groups, such as Emotional intelligence, tactful behavior, fashion, or gift choices. Solutions require suff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George Pólya
George Pólya (; ; December 13, 1887 – September 7, 1985) was a Hungarian-American mathematician. He was a professor of mathematics from 1914 to 1940 at ETH Zürich and from 1940 to 1953 at Stanford University. He made fundamental contributions to combinatorics, number theory, numerical analysis and probability theory. He is also noted for his work in heuristics and mathematics education. He has been described as one of The Martians (scientists), The Martians, an informal category which included one of his most famous students at ETH Zurich, John von Neumann. Life and works Pólya was born in Budapest, Austria-Hungary, to Anna Deutsch and Jakab Pólya, History of the Jews in Hungary, Hungarian Jews who had converted to Christianity in 1886. Although his parents were religious and he was baptized into the Catholic Church upon birth, George eventually grew up to be an agnostic. He received a PhD under Lipót Fejér in 1912, at Eötvös Loránd University. He was a professor o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Utility Maximization Problem
Utility maximization was first developed by utilitarian philosophers Jeremy Bentham and John Stuart Mill. In microeconomics, the utility maximization problem is the problem consumers face: "How should I spend my money in order to maximize my utility?" It is a type of Optimal decision, optimal decision problem. It consists of choosing how much of each available good or service to consume, taking into account a Natural borrowing limit, constraint on total spending (income), the prices of the goods and their Preference (economics), preferences. Utility maximization is an important concept in consumer theory as it shows how consumers decide to allocate their income. Because consumers are modelled as being Rational choice theory, rational, they seek to extract the most benefit for themselves. However, due to bounded rationality and other biases, consumers sometimes pick bundles that do not necessarily maximize their utility. The utility maximization bundle of the consumer is also not ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anchoring Effect
The anchoring effect is a psychological phenomenon in which an individual's judgments or decisions are influenced by a reference point or "anchor" which can be completely irrelevant. Both numeric and non-numeric anchoring have been reported through research. In numeric anchoring, once the value of the anchor is set, subsequent arguments, estimates, etc. made by an individual may change from what they would have otherwise been without the anchor. For example, an individual may be more likely to purchase a car if it is placed alongside a more expensive model (the anchor). Prices discussed in negotiations that are lower than the anchor may seem reasonable, perhaps even cheap to the buyer, even if said prices are still relatively higher than the actual market value of the car. Another example may be when estimating the orbit of Mars, one might start with the Earth's orbit (365 days) and then adjust upward until they reach a value that seems reasonable (usually less than 687 days, the c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inductive Reasoning
Inductive reasoning refers to a variety of method of reasoning, methods of reasoning in which the conclusion of an argument is supported not with deductive certainty, but with some degree of probability. Unlike Deductive reasoning, ''deductive'' reasoning (such as mathematical induction), where the conclusion is ''certain'', given the premises are correct, inductive reasoning produces conclusions that are at best ''probable'', given the evidence provided. Types The types of inductive reasoning include generalization, prediction, statistical syllogism, argument from analogy, and causal inference. There are also differences in how their results are regarded. Inductive generalization A generalization (more accurately, an ''inductive generalization'') proceeds from premises about a Sample (statistics), sample to a conclusion about the statistical population, population. The observation obtained from this sample is projected onto the broader population. : The proportion Q of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
