Explain what is meant by heuristics,and describe two decision-making biases that result from heuristics.

Heuristics are cognitive shortcuts used to make judgments and process information.Heuristics allow people to make efficient decisions without taxing their mental resources.Decision-making biases include hindsight bias,confirmation bias,and representativeness heuristic.
The hindsight bias refers to people's tendency to believe,in retrospect,that an event was more predictable than it actually was.People believe that they are better at predicting outcomes than they actually are,and once an outcome is known,they tend to believe that they would have predicted it.
The confirmation bias refers to people's tendency to seek out and pay attention to information that supports their favored positions and to ignore disconfirming information.
Representativeness heuristic refers to a bias that often leads people to make categorical judgments based on the extent to which an object,event,or individual is perceived to fit or represent a particular category.This heuristic can produce a bias in which base-rate information is insufficiently weighted.