Indexed Notes by Topic
Availability Heuristic
Insights:
- People's intuition is often the result of the availability heuristic.
- Judgement of risk is often based on the availability heuristic: the risk of shark attacks is lower than many people perceive.
- The availability heuristic can result in people focusing on the short term over the long term, especially when it comes to risk.
- Probability estimates are highly skewed by the availability heuristic.