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Difference implicit and explicit anchoring
A self thought anchor vs. a given anchor
Anchoring index
Impact of anchoring, delta estimate / (A high - A low)
Uses and abuses of anchor and adjust
Sales promotion, price negotiation and cap on awards
Availability heuristic
Replacing a difficult question with: How many instances come to mind easily
What influences your estimate in the availability heuristic
Salient, dramatic or personal experiences and facts
Recall of content / ease of retrieval
Ambiguous whether availability is about how easy it is to recall, versus how many instances can be recalled
Affect heuristic
What do I think about it —> How do I feel about it
Availability cascades
Go from minor event to public panic to large scale governmental action
Sunstein vs Slovic on availability cascases
Irrational reactions to low probability risks lead to too strong impacts on public policy vs. small risks with large effects are overestimated but there is a genuine conflict
We blame actions over inactions
Representativeness heuristic
Note 
Flashcard (21)