Which rule of thumb allows people to make quicker decisions based on easily recalled information?

The availability heuristic is a cognitive shortcut that allows individuals to make decisions more quickly by relying on immediate examples that come to mind. This rule of thumb is based on the idea that the more readily an instance is recalled, the more likely it is to be perceived as common or representative. For example, if someone frequently hears about airplane accidents, they may overestimate the risks of flying because those incidents are easily brought to memory.

This heuristic can significantly influence decision-making, as people may overlook broader statistics or facts in favor of vivid or recent experiences. It is particularly useful in situations where individuals must make rapid judgments with limited information, as it allows them to draw on their own memory rather than conducting extensive analysis.

In contrast, the other concepts listed serve different roles in the decision-making process. Confirmation bias refers to the tendency to seek out information that confirms existing beliefs, while the representativeness heuristic focuses on how closely an example matches an existing prototype. Anchoring involves relying too heavily on the first piece of information encountered when making decisions. Although each plays a role in how decisions are made, the availability heuristic is specifically centered on quickly recalling information to aid in rapid decision-making.