The Availability Heuristic

In this video I provide an introduction to behavioral economics and the work of Amos Tversky and Daniel Kahneman by describing a heuristic we use when attempting to assess the frequency of events. The availability heuristic is a shortcut that estimates frequency based on how available an event is to us, or how readily we can bring examples to mind. …

What is the Availability Heuristic?

In their first study of the availability heuristic, Tversky and Kahneman asked participants to estimate whether English had more words that started with the letter K or more words that had K as the third letter. What do you think? If you’re like most participants in their study, you might guess that there are more words that start with k …