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Essay / Research Paper Abstract
A 3 page paper presenting a scenario; identifying the types of heuristics involved in it; and designing an approach to persuading a supervisor to alter his position also using heuristics. Bibliography lists 4 sources.
Page Count:
3 pages (~225 words per page)
File: CC6_KSmktgHeuris.rtf
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Unformatted sample text from the term paper:
to purchase Volvos for the sales staff could not have met with more opposition if the researcher had concluded that a Yugo would be an appropriate, reliable car to provide
to sales representatives. The objecting supervisor has based his perception of Volvos as unreliable lemons on the experiences of one individual who had an extremely bad experience with a
Volvo. Heuristic Bias: Part 1 The dictionary definition of heuristic is "involving or serving as an aid to learning, discovery, or problem-solving by
experimental and especially trial-and-error methods," and "of or relating to exploratory problem-solving techniques that utilize self-educating techniques." One author defines heuristics as mental "rules of thumb" (Thinking About Risk,
n.d.) that take the form of mental devices used unconsciously or nearly-unconsciously to help with decision-making tasks. They are seen as being throw-backs to a much earlier time when
survival was much less assured and when presented with a danger there was not much time to spend in contemplation of all the possible choices of action. "Reaction time
was at a premium then, so unconscious or subconscious decision-making was the fastest way to literally remove oneself from harms way" (Thinking About Risk, n.d.).
A marketing or decision-making use of heuristics reveals at least four types: "availability, overconfidence, anchoring and adjustment and representativeness" (Thinking About Risk, n.d.). Availability refers to
being available in memory; overconfidence places too much credence with individual opinion; anchoring and adjustment refers to "starting with a value we know (the anchor) and adjusting from that point"
(Thinking About Risk, n.d.). "The representativeness heuristic is based on the fact that we tend to judge events by how much they resemble other events with which we are
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