System 1: Emotional
System 2: Logical
In making predictions and judgments under uncertainty, people do not appear to follow the calculus of chance or the statistical theory of prediction. Instead, they rely on a limited number of heuristics which sometimes yield reasonable judgments and sometimes lead to severe and systematic errors. (301-302)
Four Heuristics:
Representativeness Heuristic
Availability Heuristic
Simulation Heuristic
Probability vs. Frequency Heuristic
