Suppose Bobby just watched a documentary about the massive decline in house prices during the Great Recession. According to the availability heuristic, this is likely to make Bobby:
A)believe that he is wealthier than other people.
B)think the movie is biased towards the status quo.
C)believe that house prices will be more stable in the future.
D)worry that the price of his own house might fall.

Question

Quizplus · Accepted Answer

The availability heuristic is a rule of thumb that estimates the frequency of an event by the ease with which it is possible to summon examples from memory. If Bobby just saw a movie about the massive decline in house prices during the Great Recession, this will tend to make him believe that house prices might fall again.

Suppose Bobby Just Watched a Documentary About the Massive Decline