Heuristics

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What is a heuristic technique? 

From our most credible source, I gathered that it is... 

An approach to problem-solve by employing a practical method, arriving at a satisfactory solution nonetheless by taking mental shortcuts and easing the cognitive load of making a decision. 

Although, these practices are not resistant to cognitive biases. We operate on the terms of bounded rationality, or in my own words, conditional rationality. It is conditional in the sense that within computational boundaries and situational urgency, the behavioral strategic selection is a perfected one. 

Heuristics converge on human psychology, delving into self-consciousness and fine-tuning, one decision upon another. Some of the most frequently used examples of heuristics are anchoring and adjustment, which is simply giving a lower or higher bound to allow for systematic adjustments and reasonably deviate from the true value. 

Another would be availability or regency heuristic, according to Investopedia, is an issue where people would be more alarmed with a chance event happening than if wasn't recently occurring. This is a misaligned sentiment because independent events do not happen in consistent behavior, but rather stochastically. The possibilities do not change from availability. 

Another component that may contribute to Heuristics is confirmation bias, which is largely dependent on concurrent existent worldviews which confirm or deny the agent's decision-making tendencies. 

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