Final answer:
Heuristics are used for greater speed in decision making by using mental shortcuts or 'rules of thumb,' which allow people to make quicker decisions than more complex, rational methods.
Step-by-step explanation:
Heuristics are used for greater speed in decision making. They are cognitive shortcuts that help individuals make decisions quickly and with less effort, especially under conditions such as information overload, limited time, and the need for fast conclusions. A heuristic is a general problem-solving framework, also known as a 'rule of thumb,' and while it enhances the speed of decision-making, it is not always the best method for achieving accurate or rational results. People often use heuristics to solve complex problems when they are confronted with too much information, have limited time to make a decision, consider the decision to be unimportant, have very little information, or when an appropriate heuristic comes to mind spontaneously. This simplification strategy is efficient, but it may lead to cognitive biases, and therefore is not as reliable for cognitive skills that require logical or careful reasoning.