Availability bias impacts judgment from "summary" of Judgment in Managerial Decision Making by Max H. Bazerman,Don A. Moore
Availability bias impacts judgment because people tend to judge the likelihood of events based on how easily examples come to mind. This bias leads individuals to overestimate the likelihood of vivid or memorable events, while underestimating the likelihood of less memorable events. For instance, when asked to estimate the number of words that begin with the letter 'r' versus the number of words with 'r' as the third letter, people are more likely to recall words that fit the first description, leading them to overestimate the former and underestimate the latter. Availability bias can also be influenced by media exposure, personal experiences, or recent events. When individuals are exposed to sensational news stories or vivid images, these events become more accessible in their minds and subsequently impact their judgment. For example, individuals may overestimate the likelihood of a plane crash after seeing news coverage of a recent aviation accident, even though statistically, pl...
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