Advertisement:
You know you need life insurance, but how much and what kind? Get personalized answers from Nelsonomics creator Danny Nelson with a Life Insurance Blueprint.
Placeholder Lesson:
** This lesson is generated with AI assistance and approved by Danny Nelson. This lesson will communicate the essence of the topic for now until Danny can create a full lesson. **
The availability heuristic is a mental shortcut where people judge the likelihood of events based on how easily examples come to mind.
Dramatic or memorable events seem more common than they actually are.
For instance, people may fear plane crashes more than car crashes because they hear about them more often.
This can distort risk perception and lead to poor decisions.
Overall, availability shapes beliefs by emphasizing the vivid over the accurate.