An availability cascade is a self-reinforcing process in which a collective belief gains more and more plausibility through its increasing repetition. The process starts with a small number of people who hold a belief, but as they repeat it, more and more people come to believe it as well, regardless of whether the belief is true or not.
Availability cascades can have a significant impact on group decision making. When a belief is repeated often enough, it can become the dominant view within a group, even if it is not based on evidence. This can lead to groupthink, where the desire for harmony and conformity within a group overrides the ability to critically evaluate a belief. This can lead to bad decisions being made.
On the other hand, a company can also use the power of availability cascades to their advantage by creating a narrative that aligns with their business strategy and goals. By creating a narrative that resonates with their target audience, internal or external, information cascades can drive the virality of beliefs and ideas in a productive way.