Question $11(1$ point$)$

Saved

One major consequence of the availability heuristic is that

people may spend more resources to insure themselves against rare events, but leave themselves uninsured against more common events.

someone could persist in pursuing a failed policy despite overwhelming evidence of the failure.

bad decisions can be made because people will act without pausing to see whether their intuition is correct or not.

some people may wrongly believe in their forecasting ability to predict future outcomes of risky investments.