Cognitive Biases
#03
Risk Assessment
Easy to recall = common

Availability Heuristic

We judge the likelihood of events by how easily examples come to mind, not by actual statistics.

After seeing plane crash news, people avoid flying and drive instead—even though driving is far more dangerous. Vivid, recent, emotional events dominate our risk assessment.

We think terrorism, shark attacks, and stranger kidnappings are common threats because media coverage makes them mentally available. Meanwhile, heart disease and car accidents (actual top killers) seem mundane and forgettable.

This bias makes us terrible at evaluating risk. We overestimate dramatic, rare dangers and underestimate mundane, common ones. Our feelings about risk are based on memory accessibility, not mathematics.

Counter this by looking up actual statistics before making risk-based decisions. Your gut feeling about probability is almost certainly wrong.

Availability Heuristic

#03

"We fear what we see on the news, not what the data shows."

1

Check actual statistics

Before making risk-based decisions, look up real data. Don't trust your gut—it's biased by what's memorable, not what's likely.

  • Look up base rates
  • Compare actual probabilities
  • Trust data over intuition
2

Notice media influence

Recognize that media coverage is driven by drama, not frequency. Dramatic events get coverage; common dangers don't. Adjust accordingly.

3

Focus on common risks

Spend your worry budget on likely dangers: heart disease, car accidents, preventable health issues. Ignore rare but vivid fears.

Memorable doesn't mean likely. Check the stats before you assess the risk.

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