Availability Bias

The video explains availability bias, a cognitive bias where individuals rely on readily available information when making decisions, often neglecting to seek out additional relevant information. This bias can lead to incomplete decision-making by focusing too much on familiar information. The video highlights the importance of recognizing this bias to ensure all relevant information is considered.

What is the primary focus of individuals experiencing availability bias?

• Information that is outdated

• Information that is readily available

• Information that is difficult to find

• Information that is irrelevant

In what context does availability bias typically manifest?

• When learning a new skill

• When planning a vacation

• When making a decision

• When recalling past events

What is a common consequence of availability bias?

• Ignoring relevant information

• Increased research efforts

• Improved decision-making

• Enhanced memory recall

How does availability bias affect the decision-making process?

• It causes reliance on known information

• It leads to considering all options

• It encourages thorough research

• It promotes innovative thinking

What should individuals do to counteract availability bias?

• Avoid making decisions

• Rely solely on intuition

• Seek out new and relevant information

• Focus only on past experiences