Examlex
The state of choosing not to acquire information because the costs of acquiring the information are greater than the benefits is referred to as
Risk-Averse
A tendency to avoid taking risks, preferring safer or more predictable outcomes over uncertainty.
Risk-Seeking
characterizes the tendency of an individual or entity to take decisions that have a significant level of uncertainty or potential for negative outcomes in the hope of achieving higher gains.
Risk Technique
Methods or strategies used to identify, assess, and manage potential risks in a project or process to minimize negative outcomes.
Groupthink
A phenomenon where a group makes faulty or ineffective decisions for the sake of reaching a consensus, often suppressing dissenting viewpoints.
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