The Availability Heuristic
The Representativeness Heuristic
The Anchoring-and-Adjustment Heuristic
Heuristics
Reason and Intuition
First Impression
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Updated: May 22, 2026

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
Thorsten Pachur1, Ralph Hertwig, Florian Steinmann
1Department of Psychology, University of Basel, Missionsstrasse 60/62, CH-4055 Basel, Switzerland. Thorsten.Pachur@unibas.ch
People judge risks based on direct experience (availability-by-recall) more than emotional responses (affect heuristic). Media exposure had little impact on risk perception.
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