Question

In relatively ____ markets, ____ might be acceptable; however, with substantial _____, they often lead to poor trade-off decisions

Answer 1

Answer: stable, heuristic, heterogeneity and volatility

Explanation:

In relatively stable markets, heuristic might be acceptable; however, with substantial heterogeneity and volatility, they often lead to poor trade-off decisions.

It should be noted that heuristics are simply mental shortcuts that help ease decision making and examples rule of thumb, using trial and error, an educated guess etc. This often leads to poor decisions in the end.