Availability Heuristic Research Articles

Environmental, behavioral, and design-related factors affect accuracy and precision of beluga abundance estimates from aerial surveys

Abundance estimation of wildlife populations is frequently derived from systematic survey data. Accuracy and precision of estimates, however, depend on the number of replicate surveys, and on adjustments made for animals unavailable to (availability bias), or available but undetected (perception bias) by observers. This study offers a comprehensive analysis of the relative influence of methodological, environmental and behavioral factors on availability bias estimates from photographic and visual aerial surveys of a small cetacean with a highly clumped distribution, the beluga (Delphinapterus leucas). It also estimates the effect of the number of surveys on accuracy and precision of abundance estimates, using 28 replicate visual surveys flown within a 16—29 day window depending on survey year. Availability bias was estimated using detailed dive data from 27 beluga from the St. Lawrence Estuary, Canada, and applied to systematic visual and photographic aerial surveys of this population, flown using various survey platforms. Dive and surface interval durations varied among individuals, and averaged (weighted) 176.6 s (weighted s.e. = 12.6 s) and 51.6 s (weighted s.e. = 4.5 s), respectively. Dive time and instantaneous availability, but not surface time, were affected by local turbidity, seafloor depth, whale behavior (i.e., whether beluga were likely in transit or not), and latent processes that were habitat-specific. Overall, adjustments of availability for these effects remained minor compared to effects from survey design (photographic or visual) and type of platform, and observer search patterns. For instance, mean availability varied from 0.33—0.38 among photographic surveys depending on sightings distribution across the study area, but exceeded 0.40 for all visual surveys. Availability also varied considerably depending on whether observers searched within 0-90° (0.42—0.60) or 170° (0.70—0.80). Simulation-based power analysis indicates a large benefit associated with conducting more than 1 or 2 survey reps, but a declining benefit of conducting > 5—10 survey reps. An increase in sample size from 2, to 5, and 10 reps decreased the CV from 30, to 19 and 13%, respectively, and increased the probability of the abundance estimate being within 15% of true abundance from 0.42, to 0.59 and 0.69 in species like beluga.

An easily implemented single-visit survey method for intermittently available and imperfectly detectable wildlife applied to the Florida east coast diamondback terrapin (Malaclemys terrapin tequesta).

Single-visit surveys of plots are often used for estimating the abundance of species of conservation concern. Less-than-perfect availability and detection of individuals can bias estimates if not properly accounted for. We developed field methods and a Bayesian model that accounts for availability and detection bias during single-visit visual plot surveys. We used simulated data to test the accuracy of the method under a realistic range of generating parameters and applied the method to Florida's east coast diamondback terrapin in the Indian River Lagoon system, where they were formerly common but have declined in recent decades. Simulations demonstrated that the method produces unbiased abundance estimates under a wide range of conditions that can be expected to occur in such surveys. Using terrapins as an example we show how to include covariates and random effects to improve estimates and learn about species-habitat relationships. Our method requires only counting individuals during short replicate surveys rather than keeping track of individual identity and is simple to implement in a variety of point count settings when individuals may be temporarily unavailable for observation. We provide examples in R and JAGS for implementing the model and to simulate and evaluate data to validate the application of the method under other study conditions.

Sea turtle density surface models along the United States Atlantic coast

Spatially explicit estimates of marine species distribution and abundance are required to quantify potential impacts from human activities such as military training and testing, fisheries interactions, and offshore energy development. There are 4 protected species of sea turtle (loggerhead, green, Kemp’s ridley, and leatherback) commonly found along the east coast of the USA, our study area, and which require impact assessments. Data from 7 different survey organizations were used to create density surface models for the 4 sea turtle species utilizing 1.2 million km of line-transect surveys. A substantial portion (29.7%) of available sightings were not identified to the species level. Not including these sightings would underestimate density, so a conditional random forest model was used to assign unidentified sightings to species. Higher densities of loggerhead, green, and Kemp’s ridley sea turtles were predicted south of the Outer Banks in cool months, transitioning northwards in late spring to occupy seasonal neritic habitats. The highest leatherback densities were predicted off the coasts of Georgia and Florida. Leatherbacks were also predicted throughout offshore areas. The predicted distribution patterns generally matched satellite tracking and strandings data, indicating the models reproduced established seasonal movements. Surveys rarely detect sea turtles smaller than 40 cm, so these age classes are not represented. The models are the first for the study area to apply availability bias estimates developed in or near the study area and attempt to classify unidentified sightings to the species level, providing an updated, critical tool for conservation management along the eastern seaboard.

Impact of Availability bias on learning and decision making of medical students

The learning and decision-making abilities of medical students are affected by cognitive bias. One of its types, availability bias, has an impact on medical students in their clinical years. In this type of bias, learning is affected by the limited available information and experience gained by students. This refers to the tendency to overestimate the likelihood of events or conditions based on how easily they come into mind. In medical students, this happens specifically when they are exposed to clinical information in their earlier years. In the discipline-based curriculum, this bias is more evident in the fourth year of MBBS; however, in the integrated curriculum, this bias may arise during the first three years of medical education.

The ACCOBAMS survey initiative: the first synoptic assessment of cetacean abundance in the Mediterranean Sea through aerial surveys

The “ACCOBAMS Survey Initiative” (ASI) is a pilot programme aimed at establishing an integrated and coordinated monitoring system for cetaceans across the Agreement on the Conservation of Cetaceans of the Black Sea, Mediterranean Sea and contiguous Atlantic (hereafter “ACCOBAMS”) area. Conducted in coordination with Mediterranean coastal countries, it supports the implementation of European and regional policies, in particular the EU Marine Strategy Framework Directive and the Ecosystem Approach process. In summer 2018, a synoptic survey was conducted across the Mediterranean Sea and contiguous Atlantic area, combining visual monitoring from aircrafts with visual and passive acoustic monitoring from vessels. Species density and abundance were estimated through design-based approach in a line-transect sampling framework. Based on data arising from the aerial survey only, uncorrected design-based abundance was obtained for striped (N=426,744, CV=0.13), common (N=65,359, CV=0.4), bottlenose (N=63,333, CV=0.17), and Risso´s dolphins (N=26,006, CV=0.3), Cuvier’s beaked whales (N=2,929, CV=0.4) and long-finned pilot whales (N=5,540 CV=0.4). A merged category of either striped or common dolphins resulted in 212,828 individuals (CV=0.26). Fin whales abundance of 1,749 animals (CV=0.3) was corrected for both availability and perception biases and resulted in 3,282 (CV=0.31). The ASI survey offers an overall picture of the distribution and abundance of cetaceans throughout the Mediterranean basin, providing robust estimates to be considered as a baseline for future regional systematic monitoring programmes. The ASI survey is the first step towards establishing a long-term monitoring program across the entire ACCOBAMS area, and, as such, it sets the basis for further future basin-wide monitoring efforts using systematic, shared, coordinated and comparable methods. The information gathered will further enhance knowledge on cetacean status, facilitating the development of informed conservation and mitigation measures, as well as supporting the implementation of international obligations. Furthermore, the outcomes of this survey will support both place- and threat-based conservation efforts in the ACCOBAMS area, through the identification of Important Marine Mammal Areas and Cetacean Critical Habitats. Here the results of the ASI survey are presented and discussed alongside proposed management and conservation actions aimed at ensuring the persistence of cetacean populations in the region.

Detection Probability and Bias in Machine-Learning-Based Unoccupied Aerial System Non-Breeding Waterfowl Surveys

Unoccupied aerial systems (UASs) may provide cheaper, safer, and more accurate and precise alternatives to traditional waterfowl survey techniques while also reducing disturbance to waterfowl. We evaluated availability and perception bias based on machine-learning-based non-breeding waterfowl count estimates derived from aerial imagery collected using a DJI Mavic Pro 2 on Missouri Department of Conservation intensively managed wetland Conservation Areas. UASs imagery was collected using a proprietary software for automated flight path planning in a back-and-forth transect flight pattern at ground sampling distances (GSDs) of 0.38–2.29 cm/pixel (15–90 m in altitude). The waterfowl in the images were labeled by trained labelers and simultaneously analyzed using a modified YOLONAS image object detection algorithm developed to detect waterfowl in aerial images. We used three generalized linear mixed models with Bernoulli distributions to model availability and perception (correct detection and false-positive) detection probabilities. The variation in waterfowl availability was best explained by the interaction of vegetation cover type, sky condition, and GSD, with more complex and taller vegetation cover types reducing availability at lower GSDs. The probability of the algorithm correctly detecting available birds showed no pattern in terms of vegetation cover type, GSD, or sky condition; however, the probability of the algorithm generating incorrect false-positive detections was best explained by vegetation cover types with features similar in size and shape to the birds. We used a modified Horvitz–Thompson estimator to account for availability and perception biases (including false positives), resulting in a corrected count error of 5.59 percent. Our results indicate that vegetation cover type, sky condition, and GSD influence the availability and detection of waterfowl in UAS surveys; however, using well-trained algorithms may produce accurate counts per image under a variety of conditions.

Availability Bias: The Peril of Modern Patient Safety Reviews.

Availability Bias: The Peril of Modern Patient Safety Reviews.

Acoustic estimates of sperm whale abundance in the Mediterranean Sea as part of the ACCOBAMS Survey Initiative

Acoustic surveys for sperm whales (Physeter macrocephalus) were conducted in the Mediterranean Sea in summer 2018 as part of the vessel-based component of the ACCOBAMS Survey Initiative (ASI). Equal-spaced zigzag transects provided uniform coverage of key sperm whale habitats and were surveyed using a towed hydrophone array deployed from a research vessel at speeds of 5-8 knots. A total of 14,039 km of tracklines were surveyed in the western basin, Hellenic Trench and Libyan waters, with an acoustic coverage of 10% realised for sperm whales. During these surveys, 254 individual sperm whales were detected on the trackline, with an additional 66 individuals off-track. Sperm whales were only seen ten times on-track, with an additional 16 off-track sightings. Estimates of slant range to echolocating whales were used to derive density estimates through both design- and model-based distance sampling methodologies. An acoustic availability of 0.912 (sd = 0.036) was derived from via published models. When correcting for availability bias, a design-based abundance estimates of 2,673 individuals (95% CI 1,739-4,105; CV = 0.21) was derived for the surveyed blocks, which incorporated most known sperm whale habitat in the Mediterranean Sea. The equivalent model-based estimate was 2,825 whales (2,053-3,888; CV = 0.16). Over 97% of detected whales were in the western basin, with highest densities in the Algerian and Liguro-Provencal Basins between Algeria and Spain/France. In the eastern basin, detections were sparse and concentrated along the Hellenic Trench. A density surface modelling (DSM) exercise identified location and benthic aspect as being the most instructive covariates for predicting whale abundance. Distance sampling results were used in a power analysis to quantify the survey effort required to identify population trends. In the most extreme scenario modelled (10% per annum decline with decennial surveys), the population could have dropped by 90% before the decline was identified with high statistical power. Increasing the regularity of surveys would allow population trends to be detected more expediently. Mediterranean sperm whales are listed as Endangered on the IUCN’s Red List and the need for urgent conservation measures to reduce injury and mortality remains paramount for this unique sub-population.

THE IMPACT OF AVAILABILITY BIAS AND REPRESENTATIVE BIAS ON INVESTMENT DECISIONS AND PERFORMANCE: THE ROLE OF FOMO AS AN INTERVENING VARIABLE

This research starts at the root of the problem of investor irrationality in the capital market. A series of studies in the last decade show that investors tend to behave irrationally, and phenomena or anomalies are repeatedly found in the capital market or financial markets that are not in line with standard/traditional finance theory or conventional/orthodox economics theory. This research aims to determine the impact of availability bias, representative bias, and fear of missing out (FOMO) on investment decisions and investment performance, and to find out that FOMO can act as a mediating variable between these relationships. The population in this study were all investors who traded in the Indonesian capital market through brokerage houses in several cities in Indonesia, and the sample size was 116 respondents, using a purposive sampling technique. The data used is primary data, data collection techniques use questionnaires. Structural Equation Modeling (SEM) data analysis technique with the SmartPLS analysis tool. The research results show that availability bias has a positive and significant impact on investment decisions and investment performance. Representative bias has a negative and insignificant impact on investment decisions, but representative bias has a positive and significant impact on investment performance. FOMO has a positive and significant impact on investment decisions and investment performance. Availability bias and representative bias have a positive and significant impact on FOMO. FOMO partially mediates the relationship between availability bias towards investment decisions and investment performance, then representative bias towards investment performance, but FOMO fully mediates the relationship between representative bias towards investment decisions. The results of this research would contribute to the development of knowledge about behavioral finance and have theoretical and policy implications for Indonesian retail investors. Keywords: Availability Bias, Representative Bias, Fear of Missing Out (FOMO), Investment Decisions, and Investment Performance

Teleworking antecedents: an exploration into availability bias as an impediment

Telework technologies have been known since the 1970s, yet their adoption levels remained low until Covid-19-related lockdowns and curfews. The known rational and non-rational technology acceptance theory and biases cannot fully explain this effect. One of the possible answers to fill this gap could be availability bias which has probably also affected the lag in adopting other technologies. To examine this phenomenon, we conducted a qualitative study with 22 interviews with individuals from different organizational backgrounds and telework adoption levels. Following a combination of inductive and deductive coding, we identified three key aspects of availability bias: intention, cognitive visibility, and cognitive transfer. The findings also allowed us to delineate this bias further from other biases, e.g., the status quo bias, and classical technology acceptance models, e.g., UTAUT. Thereby, this study examines a bias so far only very limitedly researched in the information systems and extends technology acceptance and cognitive bias literature. The findings should also enable practitioners to question their way of working and technology use more thoroughly.

Heuristic Biases and Investment Decision-making of Stock Market Investors: A Review Paper

This article builds a theoretical and research framework by identifying numerous behavioural biases in investing decision-making through a survey of research publications in the field of behavioural finance. It outlines some of the early research that helped establish behavioural finance as a field of study and shows how it has developed through time. The purpose of the article is to carry a systematic review of the literature on heuristic biases, namely overconfidence, representativeness, anchoring, availability and gambler’s fallacy influencing stock market investment decisions, identifying the major gaps in the existing studies on behavioural biases. It also aims to raise specific questions for future research. In the present study, systematic literature review (SLR) technique has been employed. By looking at the research’s year of publication, the journal of publishing, the country of study, the type of study and the statistical methods employed, one can determine the relevance of the study. On the basis of keyword searches for ‘behavioural finance’ in various published journals, conference proceedings, working papers and some other published publications, the research papers are analysed. For the purpose of creating this article, research papers from the earliest studies (1970) to the most recent publications (2022) have been gathered over a period of years. The study also highlights some of the most recent research carried out in this area. The current study is based on 131 selected research papers that were published in reputable journals between 1970 and 2022. A significant portion of the body of literature on behavioural biases highlights the dearth of this type of study in emerging nations; increase in the number of studies after behavioural finance was applied to investment decision-making, the predominance of empirical research; the widespread use of regression analysis; the prevalence of studies on overconfidence bias and the dearth of studies on availability bias and gamblers fallacy. To the best of the authors’ knowledge, the article is a pioneering work in the field of behavioural finance to employ SLR method for a considerable span of time (1970–2022) and to evaluate all the heuristic biases involved in investment decision-making. The present research study is an integration of SLR and bibliometric analysis. The publications’ patterns have been revealed, and the relationships between different types of literature have shed information on the direction that further research should go in.

INTERFERENCE OF FOREIGN LANGUAGE LEXEMES IN THE UKRAINIAN HUMOROUS DISCOURSE DURING THE FULL-SCALE INVASION

The article highlights the cognitive and linguistic aspects of Ukrainian humorous discourse during the full-scale Russian invasion, focusing on the process of interference of words of foreign origin. Particular attention is paid to lexemes and their reinterpretation through cognitive patterns, such as availability heuristics, negative thinking, the accessibility cascade, the friend-foe pattern, the effect of contrast and stereotypical expectations. The study reveals a variety of stylistic means of comism that are caused by the interference of words of foreign origin in humorous Ukrainian discourse. The main techniques are irony, allusion, comic innuendo, parallelism, paradox, hyperbole, baphos, gradation, metaphor, and rhetorical figures. These stylistic elements of humor play an important role in creating a comic effect and shaping a humorous statement in wartime. The determined communicative functions of Ukrainian humor fragments relate to maintaining an optimistic moral state, promoting the unanimity of the Ukrainian people in the difficult circumstances of the war, creating a negative image of the enemy, and relieving psychological stress that occurs in people during hostilities, air raids, and shelling. The sample has three American tokens, three English tokens, two German tokens, and one Turkish token, which is duplicated in two jokes. All of them are reinterpreted and receive additional meanings and connotations. Ukrainian humorous discourse during the full-scale Russian invasion of Ukraine is based on topics relevant to the country: political, military, cultural-historical, and social. The systematized use of borrowed words in modern jokes can be seen, and it concerns the current realities of Ukrainians. Humor itself is built on situational circumstances, military aspects, and their consequences for society. The interference of foreign-language lexemes leads to the acquisition of specific words and phrases with new and ambiguous lexical and semantic meanings. Most of the sample, which refers to the military aid of Western countries, interprets the borrowed words in a positive sense; the other part, which concerns Russian realities, gives the constructions negative comic and ironic-humorous meanings.

The Impact of Heuristics Bias on Investment Decision: An Empirical Study

The purpose of the article is to investigate how heuristic bias affects investors’ investment decision. Understanding heuristic biases is essential for predicting and explaining human behaviour in various contexts, from consumer choices to financial decision-making and beyond. By identifying and categorizing different types of biases, researchers can discern patterns in decision-making that might otherwise remain obscure. The study takes into account four different types of heuristic bias, that is, availability bias, representativeness bias, overconfidence bias and adjustment and anchoring bias. It is very important to study heuristics bias because these biases can lead to deviations from the rational decision making. The knowledge of these biases can be used to develop strategies to improve decision making. With the aid of a questionnaire, the data is gathered. The method of convenient sampling is employed to choose 358 respondents. The data are analysed using Structural Equation Modelling and Descriptive Statistics. The study of the data reveals that the investors’ investment decisions are highly impacted by availability and adjustment and anchoring bias. Overconfidence and representativeness bias are insignificant.

A Literature Review on the Influence of Availability Bias and Overconfidence Bias on Investor Decisions

This research examines the impact of Availability Bias and Overconfidence Bias on investment decisions. Utilizing a literature review approach and VOSviewer analysis, this study explores how these biases affect investor decision-making processes and potential mitigation strategies. The objective is to highlight the significance of understanding and mitigating these biases in achieving more rational investment decisions. The findings underscore the potential negative effects of both biases, leading to overconfident and less rational investment decisions. Awareness of their interplay is crucial, as they reinforce each other's negative effects on investment decision-making. Overcoming these cognitive biases is essential for more effective investment decision-making. This research contributes insights into mitigating biases, aiding in a more balanced and rational approach to investment decision-making.

Evaluation of Behavioral Biases and Investment Decision: An Evidence from Pakistan Stock Exchange (PSX)

Investors act irrationally while making decisions, according to research in the subject of behavioral finance. The main goal of this study is to assess the behavioral biases that influence the choices made by individual equities investors from Punjab. For investors, agents, and other market participants, this study is useful and aids in making better investment decisions. The study takes into account the private investors who buy common stocks in the Pakistani province of Punjab. The Fuzzy Analytical Hierarchy Process (F-AHP) is used to examine the behavioral biases that influence certain common stock investors' choices. The familiarity bias, optimism bias, herding bias, mental accounting bias, loss aversion bias, regret aversion bias, availability bias, anchoring bias, representative bias, and overconfidence bias are the most prevalent behavioral biases taken into account in this study. Mental accounting bias, herding bias, anchoring bias, and representational prejudice were the four factors that had the greatest impact. "I prefer to invest in the well-known companies that have wider media coverage (C101)" was one of the top six sub-criteria. The financial effects of my choices are better than I anticipated (C96). "The financial ramifications of my choices turn out to be immediate" (C95). The company's news (from newspapers, television, and magazines) influences my investment choice (C84). “My investment for purchasing new stock is totally based on information released regarding the stock (C43).” “I have particular skills and experience for decision making (C13).”

Impact of Behavioural Biases on Investment Performance: A Comparative Analysis of Investors from India, USA and UK

This study presents evidence towards the existence of behavioural biases while analysing the impact of such biases on the investors’ investment performance in India, the USA, and the UK. Further, the study aims to investigate the moderating role of financial literacy on the relationship between behavioural biases and investment performance. It reveals that behavioural biases like affect heuristic, herding and status quo positively impact the investors’ investment performance amongst Indian investors whereas loss aversion, overconfidence, availability, and representativeness biases positively impact the investors’ investment performance amongst UK investors; and affect heuristic bias amongst USA investors. The findings divulge the negative impact of anchoring bias and mental accounting amongst Indian investors; availability bias, disposition effect, and overconfidence bias amongst USA investors; and affect heuristic and herding amongst UK investors. The study finds that a few of the behavioural biases impact investment performance positively, though less often. Hence investors should be cautious as these biases generally lead to irrational decision-making and might adversely influence the investors’ investment performance in the long run. The study further concludes that financial literacy significantly moderates the relationship between anchoring bias and individuals’ investment performance in India and affect heuristic in the USA. Interestingly, in the UK scenario, no significant moderating impact of financial literacy was found between any of the behavioral biases and investment performance.

Heuristic Information Processing as a Mediating Factor in the Process of Exposure to COVID-19 Vaccine Information and Misinformation Sharing on Social Media

ABSTRACT Social media use for risk communication during the COVID-19 pandemic has caused considerable concerns about an overabundance of information, particularly misinformation. However, how exposure to COVID-19 information on social media can lead to subsequent misinformation sharing during the pandemic has received little research attention. This study adopted the social amplification of risk framework to delineate how exposure to COVID-19 vaccine information on social media can be associated with individuals’ misinformation sharing through heuristic information processing. The role of social media trust was also examined. Results from an online survey (N = 1488) of Chinese Internet users revealed that exposure to COVID-19 vaccine information on social media was associated with misinformation sharing, mediated by both affect heuristics (i.e., negative affect toward the COVID-19 pandemic in general) and availability heuristics (i.e., perceived misinformation availability). Importantly, both high and low levels of trust in social media strengthened the mediating associations. While a low level of trust strengthened the association between exposure to COVID-19 vaccine information on social media and the affect heuristics, a high level of trust strengthened its association with the availability heuristics, both of which were associated with misinformation sharing. Our findings suggest that heuristic information processing is essential in amplifying the spread of misinformation after exposure to risk information on social media. It is also suggested that individuals should maintain a middle level of trust in social media, being open while critical of risk information on social media.

Quantifying Abundance and Mapping Distribution of Loggerhead Turtles in the Mediterranean Sea Using Aerial Surveys: Implications for Conservation

In the Mediterranean, incidental captures in fishing gear contribute to the high mortality of loggerhead turtles (Caretta caretta). Understanding the effects of bycatch is complex and requires robust knowledge of baseline population parameters such as abundance and density, as well as an understanding of animals’ distribution in relation to commercial fishing efforts. Based on data collected during multi-species line transect aerial surveys conducted between 2009 and 2017, we present density and abundance estimates, corrected for availability bias, for a large sector of the central Mediterranean, discuss temporal and spatial patterns and provide Potential Biological Removal (PBR) values for the monitored areas. Sightings data were also used to evaluate the spatial and temporal usage areas. Strong latitudinal and longitudinal gradients in density, abundance and area usage emerged from the analysis, with turtles occurring in higher numbers in the deeper pelagic waters of the Tunisian Plateau, the Ionian Sea and the Gulf of Taranto, irrespective of the season. PBR values derived from this study are likely unsustainable. This paper investigates the implications of commercial fisheries for Mediterranean loggerhead turtles across an area rarely included in sea turtle monitoring and has the potential to be relevant towards informed management and conservation of this species and highlights the necessity of international collaborative efforts in the region.

Research on the Application of Availability Bias on Decision Making

The availability bias is a common cognitive bias that influences decision-making in individuals. The basis for the bias is the availability heuristic, which involves judging the likelihood of an event based on the ease with which examples come to mind. The article examines the definition of the availability heuristic, its impact on decision-making, and its application to purchasing decisions. The availability bias can have a significant effect on decision-making, and it is evident in marketplace activities. Therefore, this study examines the impact of usability bias on decision making through two research studies that demonstrating the influence of availability bias on decision-making. According to the results of the analysis, the availability bias can lead to a certain cognitive bias, which can affect the decision to buy or invest in a product.

Availability Heuristics and Its Applications in Behavioral Economics

Heuristics are often employed in simplifying decision-making processes but can also lead to thinking errors and biases. Availability is one common type of heuristics, which relies on the ease with instances coming to mind. It affects decision-making of consumers, investors, firms, and other perspectives, sometimes resulting in thinking biases. The topic is searching for the role of availability in the thinking process of consumers, investors and firms and put forward possible suggestions to diminish negative impacts and take advantage of positive effect. This essay begins by introducing an overview of heuristics and a precise definition of availability heuristics and then analyzes implications relevant to understanding individual behavior and economic outcomes. Subsequently, it explores the respective suggestions according to the analyses based on existing literature and statistical data. Through this exploration, availability heuristics affect the decision-making process, which is more obvious when things are more impressive by increasing the ease with them coming to mind. At that moment, to approach to perfect decision, thinking comprehensively is an integral part.