A mental model is a sort of thinking process applied to the real world, which is usually simple yet powerful to solve complex problems. In short, mental models are simple and yet effective solutions or guiding principles to complex real-life scenarios. Therefore, the central point is those complex problems can be solved with simple solutions that, in most cases, work much better than more complex solutions.
Straw Man Fallacy
Base Rate Fallacy
Law of Unintended Consequences
Read Next: Biases, Bounded Rationality, Mandela Effect, Dunning-Kruger
Read Also: Heuristics, Biases, Business Strategy, Business Models.