1. Create a list of the heuristics that Kahneman and Tversky discuss. 2. For each, summarize a) the nature of the rule of thumb b) how it potentially leads to incorrect choices 3 Add a discussion
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1. Create a list of the heuristics that Kahneman and Tversky discuss.
2. For each, summarize
a) the nature of the rule of thumb
b) how it potentially leads to incorrect choices
3 Add a discussion onto the end. In that discussion, evaluate whether and how your evaluation of utility from each characteristic (with and without children) might be subject to one or more types of bias.
To do this analysis:
1. Create a table
2. In the first column, list the characteristics
3. Add a column for each heuristic
4. In the cell for each characteristic, identify whether your assessment of the level of that characteristic in one or more of the cities could be subject to bias associated with that rule of thumb
5. Explain how/why
6. Explain what you might do to reduce the likelihood of that bias
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