Definition of availability and representativeness heuristics

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Heuristic are intuitive rules of thumb that we use to simplify our decisions. Often, they save us time and are quite useful but other times they are applied in an arbitrary manner. Discuss the definition of availability and representativeness heuristics with examples to demonstrate how to use these rules effectively and to control bias.

Please write more than 350 words.

Reference no: EM132163173

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