 The study of heuristics in human decision-making was developed in the 1970s and '80s by psychologists Amos Tversky and Daniel Kahneman, although the concept was originally introduced by Nobel laureate Herbert A. Simon.Simon's original, primary object of research was problem solving that showed that we operate within what he calls "bounded rationality".He coined the term "satisficing", which denotes a situation in which people seek solutions, or accept choices or judgments, that are "good enough" for their purposes, but which could be optimized.