Lecture Notes in Education Psychology and Public Media
- The Open Access Proceedings Series for Conferences
Lecture Notes in Education Psychology and Public Media
Vol. 22, 20 November 2023
Open
Access | Article
Research on the Application of Availability Bias on Decision Making
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Abstract
The availability bias is a common cognitive bias that influences decision-making in individuals. The basis for the bias is the availability heuristic, which involves judging the likelihood of an event based on the ease with which examples come to mind. The article examines the definition of the availability heuristic, its impact on decision-making, and its application to purchasing decisions. The availability bias can have a significant effect on decision-making, and it is evident in marketplace activities. Therefore, this study examines the impact of usability bias on decision making through two research studies that demonstrating the influence of availability bias on decision-making. According to the results of the analysis, the availability bias can lead to a certain cognitive bias, which can affect the decision to buy or invest in a product.
Keywords
availability bias, investment decision, purchasing decision, decision making
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the International Conference on Global Politics and Socio-Humanities
- ISBN (Print)
- 978-1-83558-123-0
- ISBN (Online)
- 978-1-83558-124-7
- Published Date
- 20 November 2023
- Series
- Lecture Notes in Education Psychology and Public Media
- ISSN (Print)
- 2753-7048
- ISSN (Online)
- 2753-7056
- DOI
- 10.54254/2753-7048/22/20230218
- Copyright
- 20 November 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited