Editing Heuristics and Biases (section)

== <span style="color: #FFFFFF;">Understanding</span> ==
Heuristics and biases are understood through '''Speed''' and '''Mismatch'''.

'''1. The "Efficient" Brain (System 1)''':
Why do we have "Biases" at all?
* (See Article 616). **System 1** is "Always On."
* It must "Make Decisions" in "Milliseconds" to "Keep us Alive."
* **Heuristics** are "Good Enough" for **95% of Life.**
* If you see "Movement" in the "Grass," you don't "Calculate Probability"—you **"Run."**
* "Bias" is the "Price" of **"Speed."**

'''2. The "Modern" Mismatch (Evolution)''':
Why do we fear "The Wrong Things"?
* Our "Brain" evolved in the **"Savanna"** (see Article 571).
* In the Savanna, **"Availability"** (What you saw recently) was a "Great Way" to "Learn about Danger."
* In the **"Modern World"**, "The News" (see Article 542) "Floods" our brain with "Rare Disasters."
* Our "Savanna Brain" thinks these "Rare Events" are "Everywhere."
* We have **"Primitive Software"** running on **"High-Tech Hardware."**

'''3. The "Anchor" of the Mind (Comparison)''':
The "Relativity" of Value.
* If a "Shirt" costs **$100**, you think it's "Expensive."
* If you see a **$500** shirt first, and then the **$100** shirt is "On Sale," you think it's a **"Bargain."**
* The "Brain" is **"Terrible"** at "Absolute Measurement" but **"Great"** at "Comparison."
* "Marketers" use this "Anchor" to "Control" your "Perception of Value."

'''The 'Linda Problem' ''': A classic experiment. "Linda is 31, outspoken, and concerned with social justice." People were asked if it's more likely that: (A) Linda is a Bank Teller, or (B) Linda is a Bank Teller **and** active in the Feminist Movement. Most chose (B), even though (A) **must** be more likely (since B is a subset of A). It proved that "Narrative" (Representativeness) "Trumps" "Math" in the human mind.
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