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The exit of existing firms from a competitive market will
False Consensus Effect
The tendency to overestimate the number of other people who share one’s opinions, attitudes, values, and beliefs.
Illusion Of Control
The false belief that one can influence certain events, especially random or chance ones.
Fundamental Attribution Error
A cognitive bias that causes people to overemphasize personal characteristics and ignore situational factors in explaining others' behavior.
Availability Heuristic
A cognitive bias where individuals rely on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.
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