Concept information
Preferred term
fast and frugal heuristics
Definition
- Definition Fast and frugal heuristics, as defined by Gerd Gigerenzer, Peter M. Todd, and the ABC Research Group, are simple, task-specific decision strategies that are part of a decision maker's repertoire of cognitive strategies for solving judgment and decision tasks. Fast and frugal heuristics are simple to execute because they limit information search and do not involve much computation. [Source: Encyclopedia of Social Psychology; Fast and Frugal Heuristics]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/fast_and_frugal_heuristics
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