AP PSYCHOLOGY

Detailed explanation-1: -Representativeness. A popular shortcut method in problem-solving identified in behavioral economics is called representativeness heuristics. Representativeness uses mental shortcuts to make decisions based on past events or traits that are representative of or similar to the current situation.

Detailed explanation-2: -A problem-solving heuristic is an informal, intuitive, speculative procedure that leads to a solution in some cases but not in others. The fact that the outcome of applying a heuristic is unpredictable means that the strategy can be either more or less effective than using an algorithm.

Detailed explanation-3: -The three heuristics that received most attention were availability, representativeness, and anchoring and adjustment. The availability heuristic refers to the tendency to assess the probability of an event based on the ease with which instances of that event come to mind.

Detailed explanation-4: -The four common types of heuristics include affect, anchoring, availability, and representativeness.