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QuizMultiple Choice

Decision Making

Question 1 • Psychology - EL2084

What heuristic estimates the probability of something occurring based on how easily one recalls relevant occurrences of the event?

Answer
A
representativeness
B
expected value
C
subjective utility
D
availability

Explanation

The availability heuristic estimates how likely an event is by how easily examples come to mind. For instance, after hearing about several plane crashes, someone may overestimate the chance of a plane crash because those examples are easy to recall. Representativeness instead relies on how much something resembles a typical case.

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