Biases from Needing to Act Quickly

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4 Terms

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Availability Heuristic

The tendency to overestimate the likelihood of events that are more easily recalled from memory, often because they are vivid or recent.

2
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Bandwagon Effect

The tendency to do or believe things because many other people do or believe the same, regardless of one's own independent assessment.

3
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Base-Rate Fallacy

The tendency to ignore general statistical information and instead focus on specific, but less reliable, information when making a probability judgment.

4
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Halo Effect

The tendency for an overall impression of a person (or product, etc.) to influence how we feel and think about their character or properties (e.g., an attractive person is also assumed to be intelligent).