These Days, the Rival on the Other Side of the Street

question 59

True/False

These days, the rival on the other side of the street from a firm may be a minor threat compared to an online competitor on the other side of the globe.

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Definitions:

Avoidance

A psychological mechanism or behavior aimed at steering clear from a specific stimulus or situation due to its perceived negative consequences.

Status Quo Bias

A cognitive bias that favors existing conditions or states of affairs, leading individuals to resist change.

Omission Bias

The tendency to judge harmful actions as worse, or less moral, than equally harmful omissions (inactions).

Decision Avoidance

The phenomenon where an individual or group deliberately chooses not to make a decision, often to avoid responsibility or negative outcomes.