1.a)What is heuristics and biases approach to judgment under uncertainty? Explain your answer. (4 points)

1.b) According to Kahneman and Tversky, what are the heuristics that people use to assess probabilities and to predict values? List the heuristics. (8 points)

1.c) Give one example to each heuristic listed by Kahneman and Tversky. (8 points)