((For: Exemplary_Professor001 Only)) Discussion

One of the biases that has been proposed by Kahneman and Tversky and researched a great deal is the Availability bias. What is the Availability bias? How might it play a role in the decision in assignmnt two? Consider that the estimated probabilities for both of the High NPV future states are relatively high (0.50 and 0.75). How could the Availability bias be at work here? How could using objective data analysis like frequency distributions mitigate the effect of the Availability bias?