Aversion to Ambiguity
This bias describes a preference for choices with known probabilities over those with unknown probabilities, regardless of the expected value of each.
Familiarity
heuristics
The familiarity bias is related to the fact that people tend to fear change and the unknown. Repeated exposure to a brand, option, or idea creates a sense of comfort and trust, and this is systematically exploited by advertisers: the more we encounter a brand, the more it feels like a safe, quality choice.
NoteExample
Name-brand detergent
When getting to choose between a well-advertised name-brand detergent that costs €10.00, and the generic store-brand bottle (with the same chemical formula) that costs €8.00, we will often prefer the former. In this case, the familiarity creates a false sense of “quality” or “safety” that doesn’t exist in the product’s actual contents.
Also relates to: Affect Heuristic · Fluency Heuristic · Illusion of Validity
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