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Research on Applications of Availability Heuristics
- 1 University of Manchester
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Abstract
The availability heuristics is a cognitive bias that causes individuals to rely on easily accessible or readily available information to make decisions, rather than a more comprehensive analysis of all available information. This paper discusses the applications of the availability heuristics in various domains, including marketing and stock market investments, based on empirical and case studies research. In marketing, the availability heuristics can influence consumer behavior by pitching problems before pitching the products and advertising the success and benefits of previous users, thereby increasing the demand for the products. In the stock market, investors may overestimate the likelihood of certain events based on recent news or performance, leading to biased investment decisions.
Keywords
availability heuristics, marketing, stock market, behavioral economics
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Cite this article
Lyu,H. (2023). Research on Applications of Availability Heuristics. Advances in Economics, Management and Political Sciences,21,165-169.
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Volume title: Proceedings of the 2023 International Conference on Management Research and Economic Development
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