Question

The availability heuristic is often used to explain why individuals are fearful of events that are highly unlikely but not afraid of events that are much more common. For example, we’ve already discussed the fact that people tend to be more fearful of flying than driving, despite the fact that more people die each year in auto accidents than airplane accidents. What is another example of an irrational fear that may be caused by the availability bias? Why does this fear stem from the availability bias and what should people actually be afraid of?

Answer 1

Another example for an irrational fear due to availability heuristic is that of the government’s preoccupation with preventing death due to terrorist acts, at the cost of others. Less than 100 Americans are killed by terrorists in most years while more than 40,000 people will die this year on the nation's roads. However, the 2009 budget for homeland security is about $50 billion while the budget for the National Highway Traffic Safety Administration is about $1 billion.