Availability bias leads to flawed judgment from "summary" of Misbehaving by Richard H Thaler
The availability bias is a mental shortcut that causes people to rely on information that is readily available to them when making decisions. This bias can lead to flawed judgment because it often results in individuals placing too much importance on information that is easily accessible, rather than considering all relevant factors. For example, if someone is asked to estimate the likelihood of a particular event occurring, they may base their judgment on instances of that event that they can easily recall. This could be due to the event being recent, or particularly vivid in their memory. However, just because something is more memorable does not nece...
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