Recency fallacy

When a Chipotle restaurant closed due to a foodborne illness, it’s whole chain stock plummeted by 6%, even though there are another 2,248 restaurants in the world serving healthy food.

When United Airlines has two videos that go viral displaying poor customer service and a lack of judgment, people boycott the whole airlines and refuse to fly.

When the number one college football team in the nation loses at the end of the season as opposed to the first of the season, the number three team (who lost to a worse team earlier in the season) is now the new number one team...

All because of its recency.

Time helps us forget and move on. But things that happen recently are “top-of-mind” and can cloud our judgment.

Perception is too often reality. But the reality is, there has probably never been a better time to eat at Chipotle. United has probably never had better customer service than it does now. And just because a team loses more recently than another, doesn’t make it a worse team.