The study of heuristics in human decision-making was developed in the 1970s and

80s by Israeli psychologists Amos Tversky and Daniel Kahneman,[5] although the c
oncept was originally introduced by Nobel laureate Herbert A. Simon. Simon's ori
ginal, primary object of research was problem solving which showed that we opera
te within what he calls bounded rationality. He coined the term "satisficing", w
hich denotes the situation where people seek solutions or accept choices or judg
ments that are "good enough" for their purposes, but could be optimized.[6]
Rudolf Groner analyzed the history of heuristics from its roots in ancient Greec
e up to contemporary work in cognitive psychology and artificial intelligence,[7
] and proposed a cognitive style "heuristic versus algorithmic thinking" which c
an be assessed by means of a validated questionnaire.[8]
Gerd Gigerenzer focused on the "fast and frugal" properties of heuristics, i.e.,
using heuristics in a way that is principally accurate and thus eliminating mos
t cognitive bias.[9] Heuristics like the recognition heuristic or the take-the-b
est heuristic are viewed as special tools that tackle specific tasks (e.g., bina
ry choice) under conditions of uncertainty[10] and are organized in an "adaptive
toolbox".[11] From one particular batch of research, Gigerenzer and Wolfgang Ga
issmaier found that both individuals and organizations rely on heuristics in an
adaptive way. They also found that ignoring part of the information [with a deci
sion], rather than weighing all the options, can actually lead to more accurate
decisions.[12][13]