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Availability bias skews perception of likelihood from "summary" of Thinking Fast and Slow by Book Summary
Availability bias refers to the tendency for people to rely on information that is readily available when making judgments about the likelihood of events. This bias skews perception of likelihood because information that is more easily recalled or vivid tends to be overweighted in decision-making. For example, if we hear about a plane crash on the news, we might become more fearful of flying even though statistically, flying is one of the safest modes of transportation. This bias can lead to inaccurate assessments of risk and probability, as our perceptions are clouded by the availability of certain information. When we are exposed to vivid or emotionally charged events, they become more salient in our minds and influence our judgments. This can result in us overestimating the likelihood of similar events occurring in the future, even if they are sta...
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