Match the following examples with the correct descriptive term.
Definitions:
Availability Heuristic
A mental shortcut that relies on immediate examples that come to a person's mind, affecting the perception of the frequency or likelihood of events.
Heuristics
Mental shortcuts or rules of thumb that simplify decision-making processes, though they may sometimes lead to biases or inaccuracies.
Planning Fallacy
The tendency for individuals or organizations to underestimate the time, costs, and risks of future actions and overestimate the benefits.
Behavioral Economics
A field of economic research that examines how psychological, social, cognitive, and emotional factors affect economic decisions of individuals and institutions.
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