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    Written Report: Availability Bias

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    MJ M
    The availability bias is a cognitive bias that causes people to assess the probability of events based on how easily examples come to mind. This leads people to overestimate the likelihood of vivid or memorable events, like plane crashes or lottery wins, and underestimate less memorable risks. The availability bias stems from relying on readily available information through a cognitive shortcut called the availability heuristic. While this helps speed up decisions, it increases the chances of making flawed judgments by focusing on the most accessible examples rather than considering all relevant factors and statistics. Awareness of cognitive biases like the availability bias is important for improving critical thinking skills.

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    Written Report: Availability Bias

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    MJ M
    43 views3 pages
    The availability bias is a cognitive bias that causes people to assess the probability of events based on how easily examples come to mind. This leads people to overestimate the likelihood of vivid or memorable events, like plane crashes or lottery wins, and underestimate less memorable risks. The availability bias stems from relying on readily available information through a cognitive shortcut called the availability heuristic. While this helps speed up decisions, it increases the chances of making flawed judgments by focusing on the most accessible examples rather than considering all relevant factors and statistics. Awareness of cognitive biases like the availability bias is important for improving critical thinking skills.

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    The availability bias is a cognitive bias that causes people to assess the probability of events based on how easily examples come to mind. This leads people to overestimate the likelihood of vivid or memorable events, like plane crashes or lottery wins, and underestimate less memorable risks. The availability bias stems from relying on readily available information through a cognitive shortcut called the availability heuristic. While this helps speed up decisions, it increases the chances of making flawed judgments by focusing on the most accessible examples rather than considering all relevant factors and statistics. Awareness of cognitive biases like the availability bias is important for improving critical thinking skills.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    43 views3 pages

    Written Report: Availability Bias

    Uploaded by

    MJ M
    The availability bias is a cognitive bias that causes people to assess the probability of events based on how easily examples come to mind. This leads people to overestimate the likelihood of vivid or memorable events, like plane crashes or lottery wins, and underestimate less memorable risks. The availability bias stems from relying on readily available information through a cognitive shortcut called the availability heuristic. While this helps speed up decisions, it increases the chances of making flawed judgments by focusing on the most accessible examples rather than considering all relevant factors and statistics. Awareness of cognitive biases like the availability bias is important for improving critical thinking skills.

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    Mancenido, Maria Janella V.

    BSBAFM 3-P

    Written Report
    Availability Bias
    The availability bias is the human tendency to think that examples of things that
    come readily to mind are more representative than is actually the case. Itong
    psychological phenomenon na ito ay isang uri ng cognitive biases that
    hamper critical thinking and, as a result, the validity of our decisions.
    ang availability bias ay isang resulta ng cognitive shortcut known as the
    availability heuristic, defined as the reliance on those things that we immediately
    think of to enable quick decisions and judgments. That reliance helps us avoid
    laborious fact-checking and analysis but increases the likelihood that our
    decisions will be flawed.
    Naturally, the things that are most memorable can be brought to mind most
    quickly. However, there are a number of factors that influence how well we
    remember things. For example, we tend to remember things that we observed
    ourselves more easily than things that we only heard about. So, for example, if we
    personally know of several startups and all of them are successful, we are likely to
    overestimate the percentage of startups that succeed, even if we have read
    statistics to the contrary.
    Similarly, people remember vivid events like plane crashes and lottery wins,
    leading some of us to overestimate the likelihood that our plane will crash or,
    more optimistically -- but equally erroneously -- that we will win the lottery. In
    these cases, the availability bias leads some people to avoid flying at all costs and
    leads others to rely on a big lottery win as a retirement plan.
    Other cognitive biases include the confirmation bias, which involves giving undue
    credence to materials that support our own beliefs and attitudes, and the self-
    serving bias, which involves putting a positive spin on our own activities and
    interpreting ambiguous data in a way that suits our own purposes.
    Cognitive biases are among a number of types of errors that humans are prone to.
    Awareness of the tendency to make such errors is one of the first steps required
    to improve our capacity for critical thinking.

    Availability Bias Examples


    Here are several common and notable examples of availability bias, to help you
    better understand how it manifests in everyday life:

    1. Buying Lottery Tickets


    It’s really not even worth buying lottery tickets, because the probability that you’ll
    win is so infinitesimally small. But people do it, in large part because lottery
    organizers spend so much time and energy publicizing those who’ve previously
    won. When people consider buying tickets, they think about all of those who’ve
    won in the past (whom they’ve seen on TV, and so forth), rather the massive
    majority of those who haven’t won. Availability bias causes them to rate their
    own likelihood of winning much more highly—so they choose to buy a ticket. This
    makes lotteries a hugely profitable business model for the organizers.

    2. Assessing Climate Change


    Climate change is all about the general trend of warming throughout the globe,
    not individual days or even years. But when they’re in the midst of a cold winter,
    people may tend to believe that climate change isn’t really happening, because
    their larger beliefs about the state of the global climate are most strongly
    influenced by the recent weather in their area. This is why, in attempting to assess
    whether climate change is really happening, it’s important to look at average
    temperatures and weather patterns—because our minds are so easily skewed by
    what we personally are experiencing most recently.

    References:
    https://www.intelligenteconomist.com/availability-bias/
    https://www.google.com/search?
    q=availability+bias+examples&oq=availability+bias+Exa&aqs=chrome.2.69i57j0l3j0i22i30l6.869
    2j0j15&sourceid=chrome&ie=UTF-8

    Ang pagkakaroon ng bias ay ang ugali ng tao na isipin na ang mga halimbawa ng mga bagay na
    madaling maisip ay mas kinatawan kaysa sa aktwal na kaso. Ang sikolohikal na kababalaghan ay
    isa lamang sa isang bilang ng mga kiling na nagbibigay-malay na pumipigil sa kritikal na pag-iisip
    at, bilang isang resulta, ang bisa ng aming mga desisyon.
    Ang pagkakaroon ng bias ay nagreresulta mula sa isang nagbibigay-malay na shortcut na kilala
    bilang pagkakaroon ng heuristic, na tinukoy bilang ang pag-asa sa mga bagay na agad naming
    naisip upang paganahin ang mabilis na mga desisyon at paghuhusga. Ang pagtitiwala na iyon ay
    makakatulong sa amin na maiwasan ang matrabaho na pagsusuri sa katotohanan at pag-aaral
    ngunit pinapataas ang posibilidad na ang aming mga desisyon ay magiging kapintasan.
    Naturally, ang mga bagay na pinaka hindi malilimutan ay maaaring maisip nang pinakamabilis.
    Gayunpaman, mayroong isang bilang ng mga kadahilanan na nakakaimpluwensya kung gaano
    natin naaalala ang mga bagay. Halimbawa, may posibilidad kaming alalahanin ang mga bagay
    na mas napagmasdan natin ang ating sarili kaysa sa mga bagay na narinig lamang natin. Kaya,
    halimbawa, kung personal na alam natin ang maraming mga pagsisimula at lahat ng mga ito ay
    matagumpay, malamang na sobra-sobra ang porsyento ng mga startup na magtagumpay, kahit
    na nabasa natin ang mga istatistika na salungat.
    Katulad nito, naaalala ng mga tao ang matingkad na mga kaganapan tulad ng mga pag-crash ng
    eroplano at mga panalo sa loterya, na humahantong sa ilan sa atin na overestimate ang
    posibilidad na ang aming sasakyang panghimpapawid ay mabagsak o, mas may pag-asa - ngunit
    pantay na nagkakamali - na mananalo tayo sa lotto. Sa mga kasong ito, ang pagkakaroon ng bias
    ay humantong sa ilang mga tao na maiwasan ang paglipad sa lahat ng mga gastos at
    humahantong sa iba na umasa sa isang malaking panalo sa lotto bilang isang plano sa
    pagreretiro.
    Ang iba pang mga kiling na nagbibigay-malay ay nagsasama ng pagkumpirma sa bias, na
    nagsasangkot sa pagbibigay ng hindi labis na pagtitiwala sa mga materyal na sumusuporta sa
    aming sariling mga paniniwala at pag-uugali, at ang bias na nagsisilbi sa sarili, na nagsasangkot
    ng paglalagay ng isang positibong pag-ikot sa aming sariling mga gawain at pagbibigay
    kahulugan ng hindi siguradong data sa isang paraan na nababagay sa aming sariling layunin.

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