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Representativeness heuristic vs. stereotype

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basophilic

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What's the difference between representativeness heuristic and stereotype? I understand that they're from different fields (cognitive/problem-solving psychology and social psych), but conceptually they sound similar.

To me both involve an oversimplified, rigid schema and the tendency to assimilate things to that schema/prototype.
 
Heuristic is an approximation pulled from outside knowledge. For example, if I want to call a taxi and I see a yellow car on the street, I would attempt to hail it. The yellow car could just be a normal person's car, but I have learned from experience that a large population of the yellow cars in America are taxis.

A stereotype is a belief that you have internalized as being representative of the whole population. These do not have to be necessarily true and are often not pulled from personal experiences.

tl;dr - They are both simplifications to make our cognitive decisions easier, however heuristics are based off personal experience and stereotypes are based off of over generalizations
 
It is my understanding that a heuristic is a mental shortcut, a "solution" to a problem that is not necessarily optimal or perfect, but will do for the task at hand. This is, as you have said, a psychology term and distinct from a stereotype in that it is not really a generalization about a group of people -- but more a way to ease the difficulty of making a decision in the case where a perfect decision may be impossible or unnecessary.

I ask: why do you associate heuristic with "an oversimplified, rigid schema and the tendency to assimilate things to that schema/prototype"?

For stereotype on the other hand, yes it is an oversimplification. Schemas, to my knowledge, are mental "frameworks" that an individual constructs to make sense and organize information/the environment. As such, schemas embody preconceived ideas and values that an individual holds to be true. So, I can see how stereotypes can relate directly to schemas -- but don't really see the connection how developing a shortcut to problem solving is directly correlated with the particular schema of an individual.