A more basic problem with the Example Rule is that it is biased, thanks to the way our memories work. Recent, emotional, vivid, or novel events are all more likely to be remembered than others. In most cases, that’s fine because it’s precisely those sorts of events that we actually need to remember. But the bias in our memory will be reflected in Gut’s judgments using the Example Rule—which explains the paradox of people buying earthquake insurance when the odds of an earthquake are lowest and dropping it as the risk rises. If an earthquake recently shook my city, that memory will be fresh,
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