When Decision Makers Seek Out Information That Reaffirms Their Past

question 140

Multiple Choice

When decision makers seek out information that reaffirms their past choices and discount information that contradicts past judgments, they are exhibiting ________.

• A)availability bias
• B)selective perception
• C)self-serving bias
• D)confirmation bias
• E)the anchoring effect

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Definitions:

Capitalist Income

Income generated through the ownership of capital assets like businesses, stocks, or real estate, often distinguishing the earnings of capitalists from laborers.

Economic Rent

The excess payment or profit made over the minimum amount required to bring a factor of production into use.

Pure Rate of Interest

The rate of return on a risk-free investment, theoretically excluding the effects of inflation, default risk, and other factors.