Stories ("the availability heuristic") are the basic building block of availability cascades: “A pervasive mental shortcut whereby the perceived likelihood of any given event is tied to the ease with which its occurrence can be brought to mind”.
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Social availability errors: When availability cascades create "widespread mistaken beliefs”. “The resulting mass delusions may last indefinitely and produce detrimental laws and policies."
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Meta Ironically, the paper is itself an availability cascade for available cascades that exploits the availability heuristic: “Offering recent examples of availability cascades that have resulted in socially harmful regulatory responses, we shall propose institutional reforms…”
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What are historical examples? Edward Bernays, the GOAT of Availability Entrepreneurs. As Freud’s cousin, he exploited his ideas to create the PR industry, the idea of “lifestyle” products, and sway elections. Documented in The Century of the Self: https://en.wikipedia.org/wiki/The_Century_of_the_Self …
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Summary Availability cascades are extremely powerful mechanisms that determine what ideas dominate in society. They work by combining the proliferation of specific information and social pressure in a runaway self-reinforcing cycle.
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