Glossary

Heuristics provides a process for quick decision-making. Examples of this may include ‘a rule of thumb’ or a ‘best/educated guess.’

Reference class forecasting is a method of predicting the future by looking at similar past situations and their outcomes.

Based on behavioral economics, the Nudge is generally applied in order to influence behavior.  For more information, refer to Richard Thaler and Cass Sunstein’s book: Nudge: Improving Decisions About Health, Wealth, and Happiness. Yale University Press, 2008.