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Fast and Frugal Heuristics1

Bibliographic Data

ID4079719
AuthorsMichael A Bishop, Michaël Bishop (0000-0002-6064-5316, Northern Illinois University, corresponding author)
Year2006
Volume1
Issue2
Pages201-223
Publication date2006-03-01
Open AccessYes
TypeARTICLE
VenuePhilosophy Compass (JOURNAL)
Journal identifiersISSN: 1747-9991 • E-ISSN: 1747-9991
PublisherWiley (PUBLISHER • GB)
DOI10.1111/j.1747-9991.2006.00020.x
OpenAlexW2007032764
LanguageEN
Citations received11
References cited41

A heuristic is a rule of thumb. In psychology, heuristics are relatively simple rules for making judgments. A fast heuristic is easy to use and allows one to make judgments quickly. A frugal heuristic relies on a small fraction of the available evidence in making judgments. Typically, fast and frugal heuristics (FFHs) have, or are claimed to have, a further property: They are very reliable, yielding judgments that are about as accurate in the long run as ideal non-fast, non-frugal rules. This paper introduces some well-known examples of FFHs, raises some objections to the FFH program, and looks at the implications of those parts of the FFH program about which we can have some reasonable degree of confidence

Algorithm · Epistemology · Heuristic · Heuristics · Mathematical economics · Rule of thumb · Computer Science · Decision-Making and Behavioral Economics · Experimental Behavioral Economics Studies · Mathematics · Philosophy · Psychology of Social Influence · Artificial Intelligence

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Citations per year0.52
Citation span2005 - 2021 (17)
Highly citedNo

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