Judgment under Uncertainty

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Judgment under Uncertainty

Summary

In this article “Judgment under Uncertainty: Heuristics and Biases”, Tversky and Kahneman talk about how biased judgments are made to decide the likeliness of uncertain proceedings prior to any judgment. They argue how decision makers attempt to evaluate the chance of an event, but however it is often hard to do so exactly. As Often, judgment makers can estimate the general magnitude of an event, but it is more difficult to make a more accurate decision.

One of the issues that the author addresses is the representative heuristic. In this situation, people might make judgments based on ...