What Is the Availability Bias?: The Availability Heuristic In Everyday Life - Nerd-Out Wednesdays Video
I define the availability heuristic, and discuss types of heuristics in psychology and decision-making. The availability heuristic is a shortcut that we all make as everyday decision-makers where we use immediate examples to evaluate decisions. The concept is based on the idea that, we as decision-makers, are fallible. We rarely make the optimal decision based on all available information. Rather, we default to the choice that is easier to process.
This is part of my nerd-out Wednesday series where I talk about things that I find very interesting in science, particularly with decision-making and business strategy.
Daniel Kahneman and Amos Tversky first started exploring availability bias in the 1970s, where they presented their students and colleagues different questions that captured the availability bias. Thank ass little scenarios in order to somewhat trick individuals to see this effect. For example, they asked how many words can you imagine how many words that start with the letter j compared to how many words with j as the third letter come to mind.
There are similar biases that are captured in the same way. Two of the heuristics in psychology that I think are quite similar is the recency bias and the anchoring and adjustment heuristic. The recency bias is the fact that decisions are often weighted towards more recent information. The anchoring and adjustment here is that is that we use known things around us, and adjust our decision outcomes relative to those things.
Decision-makers of all types, CEOs, children, and everyday people, use these mental shortcuts. I do too! I often look at the people around me to judge how I am currently doing with my own performance. This is a poor decision making tactic, because it leaves me feeling quite anxious.
I also tend to do this with my emails, where I simply respond to the most recent emails that come my way. I also forget to appreciate the people that of helped me along the way, particularly those that are fall down in my email box. I also forget to think about my financial situation, and where I was 3 years ago.
The key thing is to repeatedly knowledge that we use these availability heuristics and and have availability biases, and continue to work against them.
Check out:
What Is A Confirmation Bias? Confirmation Biases - Nerd-Out Wednesday
https://youtu.be/72PnUjoSNKY
How Do You Analyze Data In Research When Nothing Works? - Nerd-Out Wednesday
https://youtu.be/AqRFsv7umhk
Causation Vs Correlation: What Is Causation And Correlation? - Words In Science - Nerd-Out Wednesday
https://youtu.be/iAq4Z0D61vE
Introduction To Threats To Internal Validity: Series On Internal Validity
https://youtu.be/HEyJzeBPzPE
***************
David Maslach is a research professor of entrepreneurship, innovation, and business strategy, I discuss topics, such as behavioral science, strategy, innovation, and entrepreneurship, and apply these to my new peer proofreading and editing platform. Topics include the sharing economy, altruism, investing in technology, and bounded rationality. My favorite videos pertain to incentives, goal setting, and learning from failure to drive behaviors such as weight loss, stopping telemarketers, creating novel technologies, and creating new movements.
r3ciprocity.com: Peer proofreading and editing platform
A new platform where you can earn credits by editing other people's documents. Use these credits to have your own work edited. If you do a good enough job, you can convert these credits to money.
The goal of the platform is to get people to 'pay it forward' and help other people out by creating incentives for people to give back.
Check out www.r3ciprocity.com
Please subscribe to the Youtube channel:
https://www.youtube.com/channel/UC5spxk7bNDMGPSHjW_8ndZA
About the Site 🌐
This site provides links to random videos hosted at YouTube, with the emphasis on random. 🎥
Origins of the Idea 🌱
The original idea for this site stemmed from the need to benchmark the popularity of a video against the general population of YouTube videos. 🧠
Challenges Faced 🤔
Obtaining a large sample of videos was crucial for accurate ranking, but YouTube lacks a direct method to gather random video IDs.
Even searching for random strings on YouTube doesn't yield truly random results, complicating the process further. 🔍
Creating Truly Random Links 🛠️
The YouTube API offers additional functions enabling the discovery of more random videos. Through inventive techniques and a touch of space-time manipulation, we've achieved a process yielding nearly 100% random links to YouTube videos.
About YouTube 📺
YouTube, an American video-sharing website based in San Bruno, California, offers a diverse range of user-generated and corporate media content. 🌟
Content and Users 🎵
Users can upload, view, rate, share, and comment on videos, with content spanning video clips, music videos, live streams, and more.
While most content is uploaded by individuals, media corporations like CBS and the BBC also contribute. Unregistered users can watch videos, while registered users enjoy additional privileges such as uploading unlimited videos and adding comments.
Monetization and Impact 🤑
YouTube and creators earn revenue through Google AdSense, with most videos free to view. Premium channels and subscription services like YouTube Music and YouTube Premium offer ad-free streaming.
As of February 2017, over 400 hours of content were uploaded to YouTube every minute, with the site ranking as the second-most popular globally. By May 2019, this figure exceeded 500 hours per minute. 📈
List of ours generators⚡
Random YouTube Videos Generator
Random Film and Animation Video Generator
Random Autos and Vehicles Video Generator
Random Pets and Animals Video Generator
Random Travel and Events Video Generator
Random People and Blogs Video Generator
Random Entertainment Video Generator
Random News and Politics Video Generator
Random Howto and Style Video Generator
Random Education Video Generator