Heuristics Are Useful Mental Shortcuts but They Also Have Drawbacks

question 68

Multiple Choice

Heuristics are useful mental shortcuts but they also have drawbacks.What could be considered one disadvantage of using the representativeness heuristic?

• A) When using the representativeness heuristic people do not consider information about an individual's personality.
• B) The representativeness heuristic takes a great deal of controlled processing.
• C) Using the representativeness heuristic may lead to neglecting other important information such as the base rate.
• D) Using the representativeness heuristic leads to greater use of the base rate.

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Definitions:

Fraudulent Misrepresentation

A false statement made knowingly, without belief in its truth, or recklessly, to induce another party to enter into a contract.

Undue Influence

The excessive pressure or influence by one person over another, leading to decisions or actions that do not reflect the true intentions of the influenced party.

Shared Mistake

The same mistake made by both parties to a contract.

Unilateral Mistake

A situation where only one party to a contract is mistaken about a fundamental aspect of the contract, affecting the agreement's validity.