Why do heuristics (mental shortcuts) that served our ancestors well now lead to behavioral biases in financial decisions?
(select all that applies)

Question

Why do heuristics (mental shortcuts) that served our ancestors well now lead to behavioral biases in financial decisions? 
 (select all that applies)

Answer

Heuristics produce systematic and predictable errors when applied to problems they were not designed for

Answer

The brain has not had enough evolutionary time (10-40 thousand years) to adapt to modern complexity

Answer

Heuristics were always flawed -- they never worked well

Answer

The modern environment is very different from the ancestral environment in which the brain evolved

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