Concept/Term:
Availability Heuristic refers to how easily something that you've seen or heard can be accessed in your memory. People tend to think of things they remember as more important than things they don't remember as easily. People base their prediction of an outcome on the vividness and emotional impact rather than on actual probablity. Various factors can affect availability. Things which are easier to imagine, for example if they are very vivid makes themselves more available. Things which are uncomfortable to think about can push people into denial, making these thoughts unavailable.
Example:
After seeing many news stories of home foreclosures, people may judge that the likelihood of this event is greater. This may be true because it is easier to think of examples of this event.
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