Availability Heuristic
Also called: availability bias, recall bias
The availability heuristic judges probability by how easily examples come to mind, so vivid and recent events feel more likely than they are. It's why people fear plane crashes more than driving, and why flood insurance uptake spikes after a flood and lapses over the following years. In markets it produces systematic overpricing of risks that have just been in the news.
Where this is taught
Definitions are the trailer. These free levels turn Availability Heuristic into something you play — one bite-size lesson, with worked examples, a quiz and XP.