PNB 3RM3 Lecture Notes - Lecture 8: Availability Heuristic, Representativeness Heuristic
5 Oct 2020
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Document Summary
Shortcuts are not good when you don"t know enough or if there is any other information you could use that would assess the situation better. Often relies on poor evidence when making your decision. We use these heuristics to make judgements about everyday life but are often not aware of it. The representativeness heuristic: insensitive to base rates. Don"t look at the statistic of things in the general population (aka the base rate of something: illusion of validity. Exploiting a heuristic to make something seem more legitimate". The availability heuristic: the idea that you use experiences most readily available in mind to assess a situation involves both: ease of remembering. If something is easy to remember, then your judgement of that thing is going to be easier to do: ease of imagining. Same with the idea of ease of remembering.
