The Availability Heuristic Involves Basing the Estimated Probability of an Event

question 29

Multiple Choice

The availability heuristic involves basing the estimated probability of an event on

• A) how long it has been since the event last occurred.
• B) how similar it is to the prototype of that event.
• C) whether the event occurs in combination with another event.
• D) the ease with which relevant instances of the event come to mind.

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Definitions:

Previous

Referring to something occurring before the current point in time or the item immediately before another in order or sequence.

Accord And Satisfaction

A contract law concept where a dispute is settled by an agreement (accord) and the subsequent payment (satisfaction), which discharges the original contractual obligation.

Mutual Agreement

A consensus or accord reached between two or more parties on a matter, often formalized through a contract or verbal understanding.

Specific Performance

An equitable remedy requiring the breaching party to perform as promised under the contract; usually granted only when money damages would be an inadequate remedy and the subject matter of the contract is unique (for example, real property).