PORTFOLIO: Unit 1 Application Reflection
The availability heuristic is, in simpler terms, a mindset that people with certain information that comes to mind in order to make decisions about the future. I personally feel like this concept is important to understand, since it is not very rational at times. Like some people choose to not do certain things, because they might be so scared based off experiences they have heard. Within the real world, I feel like this mindset does not work out all the time since it leads to bad-decision making. Since I am finance major, and want to eventually go to law school I feel like this mindset would not work out in these types of career fields. Since these careers involve a lot of rational thinking for business transactions, court hearings, etc. Even within everyday life, this mindset is not practical, but is easy to believe at times. And that is why it is important for people to understand, and be aware of it.
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