Availability bias
What Availability bias means in Economics A-Level, as defined for AQA.
Definitions of Availability bias
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Reference: AQA
Leads people to overestimate the likelihood of events they can easily recall, such as buying insurance after seeing news of a flood.
Decisions are influenced by the ease with which examples come to mind, often skewing risk assessment.
Topics that use Availability bias
- Aspects of behavioural economic theory (AQA A-Level)
Related terms
- Anchoring
- Behavioural economics
- Bounded rationality
- Bounded self-control
- Consumer behaviour
- Equity and fairness
- Satisficing behaviour
- Utility maximisation
Using Availability bias in the exam
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