This cognitive bias occurs when we judge the likelihood of an event based on how easily examples come to mind. For example, if we can easily recall vivid experiences of plane crashes, we might overestimate the chances of such accidents happening again.
Peak-end Rule: This bias suggests that our memories are heavily influenced by the most intense point (peak) and how things end. So even if an overall experience was mostly positive or negative, a single vivid moment could shape our perception of the entire event.
This cognitive bias occurs when we rely too heavily on the first piece of information encountered (anchor) when making decisions or estimates. If someone gives us exaggerated details about their vivid experience, it may anchor our beliefs about similar events in the future.