This phenomenon explained the influence of Recency on availability.
What is Recency bias?
- Recency bias, also known as availability bias, is a cognitive flaw in which people mistakenly predict that recent events will recur shortly.
- This inclination is unreasonable since it hides the actual or objective probabilities of events happening and impairs judgment.
- The "hot hand" fallacy, as well as panic selling and bubble purchasing on the stock market, can all be explained in part by Recency bias.
What are ways to correct Recency bias?
- Recency bias can be challenging to combat since it preys on the strong human emotions of fear and greed.
- Furthermore, because recent events are still fresh in our memories, our brains are programmed to emphasize them more than earlier experiences that have faded from memory.
This phenomenon explained the influence of Recency on availability.
To know more about Recency bias , check out:
https://brainly.com/question/8653544
#SPJ4