Finance & investing
Investors perceive false links between unrelated market indicators and stock performance — such as believing that a specific economic report always precedes a rally — because the memorable instances of co-occurrence overshadow the many times the pattern did not hold.
Medicine & diagnosis
Clinicians overestimate the association between certain patient demographics and diagnoses, or between specific symptoms and rare conditions, because distinctive co-occurrences (e.g., a young patient with a serious disease) are more memorable than routine presentations, distorting diagnostic reasoning.