We often base our estimates of the likelihood of events on how easily information is accessed. This describes the __________ heuristic.
A)availability.
B)representativeness.
C)framing.
D)anchoring and adjustment.

Question

Quizplus · Accepted Answer

The availability heuristic is based on the idea that we tend to estimate the likelihood of events based on how easily we can access relevant information in our memory. This means that events that are more memorable, due to being more recent or more easily imagined, are more likely to be overestimated in terms of their likelihood. Therefore, the availability heuristic is the best choice. The representativeness heuristic involves making judgments based on how representative a given event or situation is of a particular category or group, while framing refers to the effects of the way information is presented on our judgments and decisions. Anchoring and adjustment involves starting with an initial estimate or reference point and adjusting our judgments based on new information.

We Often Base Our Estimates of the Likelihood of Events