Question

When you don't know the probability of something, attribute substitution argues you will instead use ______________

a) Availability heuristic
b) Representativeness heuristic
c) Anchoring bias
d) Substitution bias

Answer 1

Option (a), The correct answer to the question is the availability heuristic, which is a cognitive bias where people judge the probability of events based on how easily they can recall similar instances.

Step-by-step explanation:

When you don't know the probability of something, attribute substitution argues you will instead use the availability heuristic. The availability heuristic refers to the tendency to evaluate new information based on the most recent or most easily recalled examples, often leading us to overestimate the probability of certain events because they are more memorable or vivid in our minds.

Another type of bias that could be considered is the representative heuristic, which involves relying on stereotypes when making decisions. However, for the phenomenon of substituting a difficult probability assessment with a more readily available piece of information, the availability heuristic is the correct answer.

Availability heuristic, confirmatory bias, and anchoring bias are all examples of cognitive biases that can impact decision-making processes.