Speaking of Substitution and Heuristics “Do we still remember the question we are trying to answer? Or have we substituted an easier one?” “The question we face is whether this candidate can succeed. The question we seem to answer is whether she interviews well. Let’s not substitute.” “He likes the project, so he thinks its costs are low and its benefits are high. Nice example of the affect heuristic.” “We are using last year’s performance as a heuristic to predict the value of the firm several years from now. Is this heuristic good enough? What other information do we need?”
