Which of the following is not a type of heuristics?

Correct option is D

Heuristics are mental shortcuts or rules of thumb that people use to make quick decisions with minimal cognitive effort. They are not always optimal but are efficient for everyday decision-making.

In contrast, algorithms are step-by-step procedures or formulas designed to provide a guaranteed correct answer to a problem. Unlike heuristics, algorithms follow a logical, structured approach and do not rely on intuition or approximations. Thus, algorithms are not a type of heuristic, making option (d) the correct answer.

Information Booster:
-Availability Heuristic: Judging the likelihood of events based on how easily examples come to mind.
-Representativeness Heuristic: Estimating the likelihood of an event based on how similar it is to a prototype.
-Anchoring and Adjustment Heuristic: Relying heavily on the first piece of information (anchor) when making decisions, then adjusting from that point.
-Recognition Heuristic: When faced with multiple options, people tend to choose the one they recognize more easily.
-Affect Heuristic: Making decisions based on emotional reactions or feelings rather than logical analysis.
-Simpson's Paradox: A trend appears in several groups of data but disappears or reverses when the groups are combined.
-Escalation of Commitment: The tendency to continue investing in a failing course of action due to prior commitments.
-Satisficing: Choosing an option that meets the minimum criteria, rather than the optimal solution.
-Status Quo Bias: The tendency to prefer things to remain the same rather than change.
-Framing Effect: People’s decisions are influenced by how a situation or problem is presented.
-Hindsight Bias: The tendency to see events as having been predictable after they have occurred.
-Conjunction Fallacy: The error of assuming that specific conditions are more probable than general ones.
-Bandwagon Effect: The tendency to adopt beliefs or actions because many others have done so.
-Simulation Heuristic: Judging the likelihood of an event based on how easily one can imagine it happening.

Additional Information:
(a) Lexicographic Strategy: A valid heuristic where the most important factor determines the decision.
(b) Elimination of Aspects: A well-established heuristic for narrowing down choices step by step.
(c) Majority of Continuity Decisions: Though less commonly discussed, it is a heuristic that relies on past trends for decision-making.