When Decision Makers Tend to Think They Know More Than

question 37

Multiple Choice

When decision makers tend to think they know more than they do or hold unrealistically positive views of themselves and their performance, they are exhibiting ___________.

• A) the anchoring effect
• B) overconfidence bias
• C) self- serving bias
• D) immediate gratification bias

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Definitions:

Key Data Executive

A senior role focused on overseeing and managing an organization's data strategy, integrity, and analytics.

Compensate

To provide something, typically money, in recognition of loss, suffering, or damage incurred; to make amends.

Actuarial Insurance

The application of statistical and mathematical methods in the insurance industry to calculate risk and determine premiums.

Frequency

The rate at which a repeated event occurs, such as the number of waves that pass a fixed point in a specific amount of time in the context of physics, or the regularity of an occurrence in general terms.