TDL Perspectives: What Are Heuristics?
Julian Hazell, an Associate at The Decision Lab, sat down with Sekoul Krastev, a Managing Director, to learn more about his perspective on heuristics.
Some topics we covered include:
- What are heuristics?
- Why do they exist?
- Are they good or bad?
- How do they apply in the real world?
- How were they discovered?
Julian: Let’s start with the basics. What are heuristics?
Sekoul: A heuristic is a simple rule that we use to solve more complex problems. They are mental shortcuts that allow us to make a decision about something without having to take a quasi-infinite amount of time to consider every single aspect of it.
About the Authors
Dr. Sekoul Krastev
Sekoul is a Co-Founder and Managing Director at The Decision Lab. He is a bestselling author of Intention - a book he wrote with Wiley on the mindful application of behavioral science in organizations. A decision scientist with a PhD in Decision Neuroscience from McGill University, Sekoul's work has been featured in peer-reviewed journals and has been presented at conferences around the world. Sekoul previously advised management on innovation and engagement strategy at The Boston Consulting Group as well as on online media strategy at Google. He has a deep interest in the applications of behavioral science to new technology and has published on these topics in places such as the Huffington Post and Strategy & Business.
Julian Hazell
Julian is passionate about understanding human behavior by analyzing the data behind the decisions that individuals make. He is also interested in communicating social science insights to the public, particularly at the intersection of behavioral science, microeconomics, and data science. Before joining The Decision Lab, he was an economics editor at Graphite Publications, a Montreal-based publication for creative and analytical thought. He has written about various economic topics ranging from carbon pricing to the impact of political institutions on economic performance. Julian graduated from McGill University with a Bachelor of Arts in Economics and Management.
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