Final answer:
Heuristics are mental shortcuts that rely on rules of thumb for efficient decision-making but can sometimes lead to errors due to cognitive biases.
Step-by-step explanation:
Heuristics exert a strong influence on our thinking in large measure because they rely on rules of thumb to guide them.
Heuristics are essentially mental shortcuts or rules of thumb that simplify decision-making by reducing the complexity of assessing a situation. These cognitive processes help individuals make quick and efficient judgments, which is especially useful when dealing with complex problems or under time constraints. Heuristics operate by using easily accessible information to arrive at conclusions, often without the individual being fully aware of the process. Despite their efficiency, they sometimes lead to biased thinking and faulty reasoning due to cognitive biases such as the availability heuristic, confirmation bias, and anchoring bias.
For instance, people may overestimate the frequency or likelihood of events based on recent occurrences or memorable examples, which is characteristic of the availability heuristic. Similarly, individuals might stick with the initial information provided, like prices or estimates, and inadequately adjust from that anchor. Heuristics enable individuals to avoid the time and effort required for complete cognitive evaluation, yet the overreliance on them can introduce errors in judgment and lead to irrational decisions at times.