Studies of Human Decision-Making Have Detected Systematic Mistakes That People

question 358

Multiple Choice

Studies of human decision-making have detected systematic mistakes that people make. Which of the following have been detected?

• A)people are overconfident
• B)people give too much weight to a small number of vivid observations
• C)people are reluctant to change their minds
• D)All of the above are correct.

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Definitions:

Corporation

A legal entity formed under state law that is separate from its owners, providing limited liability and the ability to raise capital through the issuance of shares.

Organizer

A person responsible for planning and conducting events or activities, often involving logistical coordination and management.

Incorporates

The act of forming a new corporation by filing required documents with the state, or integrating components into a whole.

Business

A business is an organization or enterprising entity engaged in commercial, industrial, or professional activities with the aim of earning profits.