The heuristic-systematic model is a psychological theory that explains how individuals process information and make decisions, using two distinct modes: heuristic processing, which relies on mental shortcuts and quick judgments, and systematic processing, which involves careful analysis and thorough evaluation of information. This model is crucial in understanding how biases can influence decision-making, particularly in areas such as real estate investing.
congrats on reading the definition of Heuristic-Systematic Model. now let's actually learn it.