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Availability heuristic influences our decisionmaking from "summary" of Thinking, Fast and Slow by Daniel Kahneman
The availability heuristic is a mental shortcut that we all use when making decisions. It involves relying on information that is readily available to us, often through recent experiences or vivid examples that come to mind easily. This heuristic can significantly influence our decision-making process, leading us to overestimate the likelihood of events that are more easily recalled, even if they are not actually very common or probable. For example, if we hear about a plane crash on the news, we may become more fearful of flying, even though statistically speaking, flying is one of the safest modes of transportation. The vividness of the news story makes the idea of a plane crash more available in our minds, leading us to believe it is more likely to happen to us. The availability heuristic is a product of our brain's reliance on mental shortcuts to make quick decisions without expending too much cognitive effort. While these shortcuts can be helpful in some situations, they can also lead us astray by causing us to focus on the wrong information or overlook important details. In order to combat the influence of the availability heuristic on our decision-making, it is important to be aware of its existence and consciously consider a wider range of information when evaluating probabilities and making choices. By taking the time to think more critically about the information we are basing our decisions on and considering a broader range of factors, we can avoid falling into the trap of relying too heavily on the availability heuristic.
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