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Consider a public road that anyone is allowed to drive on. If the road is often congested, the road would be considered a
John Wayne
An iconic American film actor famous for his roles in Westerns and war movies.
Representativeness Heuristic
The representativeness heuristic is a cognitive bias where individuals judge the probability or frequency of a hypothesis by considering how much the hypothesis resembles available data.
Base-Rate Effect
A cognitive error whereby people judge the likelihood of an event by intuitive examples rather than by statistical evidence.
Availability Heuristic
A cognitive shortcut based on the first examples that appear in someone's thoughts when assessing a certain topic, idea, strategy, or choice.
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