Difference between revisions of "Availability heuristic"
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| − | Availability heuristic | + | In [[Nudge: Improving Decisions About Health, Wealth, and Happiness|Nudge: Improving Decisions About Health, Wealth, and Happiness]] '''Availability heuristic''' is a cognitive bias where people predict the frequency of an event based on how easily an example can be brought to mind. The authors state that this could help explain why people think that homicides occur more than suicides, as examples of homicides are more readily available. The availability heuristic can have negative effects in business and politics, because people will overstate risks, resulting in people purchasing unnecessary insurance, or governments pursuing social goals at the expense of other more fruitful ones. |
[[Category:management]] | [[Category:management]] | ||
Latest revision as of 19:44, 27 August 2020
In Nudge: Improving Decisions About Health, Wealth, and Happiness Availability heuristic is a cognitive bias where people predict the frequency of an event based on how easily an example can be brought to mind. The authors state that this could help explain why people think that homicides occur more than suicides, as examples of homicides are more readily available. The availability heuristic can have negative effects in business and politics, because people will overstate risks, resulting in people purchasing unnecessary insurance, or governments pursuing social goals at the expense of other more fruitful ones.
