What is availability bias?
Overweighting information that is recent, vivid, or easily recalled when judging frequency or probability. Corrected with base rates and at least one full-cycle of long-run data.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.