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Fox, C. R., & Levav, J. (2000). Familiarity Bias and Belief Reversal in Relative Likelihood Judgment. Organizational Behavior and Human Decision Processes, 82, 268-292.
https://doi.org/10.1006/obhd.2000.2898

has been cited by the following article:

• TITLE: The Extent of Biases and Heuristics Affecting Rural Families’ Decisions to Run Small Businesses

  AUTHORS: Disha Varkala

  KEYWORDS: Small Business, Entrepreneurship, Business, Biases, Heuristics, Enterprise, Rural, Start-Up, Venture

  JOURNAL NAME: Open Journal of Social Sciences, Vol.12 No.7, July 12, 2024

  ABSTRACT: Rural families living in impoverished conditions and developing nations who wish to start their own businesses are impacted by a multitude of cognitive shortcuts and heuristics. Three heuristics that are relevant to rural families starting businesses are the anchoring, representativeness and familiarity. Through utilizing literature reviews of majorly qualitative and quantitative data, this paper delves into how these biases impact business decision making in rural communities. Additionally, this paper also suggests a span of policies and suggested actions that are intended to assist these communities in making better decisions and stray away from the negative effects of these heuristics.