Availability Bias Lecture Notes with Definitions PDF | Download eBooks

Study Availability Bias lecture notes PDF with organizational behavior definitions and explanation to study “What is Availability Bias?”. Study availability bias explanation with organizational behavior terms to review organizational behavior course for online MBA programs.

Availability Bias Notes:

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. The psychological phenomenon is just one of a number of cognitive biases that hamper critical thinking and, as a result, the validity of our decisions. The availability bias results from a 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.

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