The availability bias: Why we overestimate the likelihood of scary but unlikely events
Idea to Value
OCTOBER 13, 2022
However, in the last 500 years only 1,909 confirmed shark attacks occurred worldwide (as of the 2015 research paper ); of the 737 that happened in the United States, only 38 people died in total. This is where the availability heuristic can become a real problem for innovation teams. Cows are far more deadly than sharks.
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