Examlex
A good's price elasticity of demand can be calculated by using the formula of
Social Psychologist
A scientist or researcher who studies how people's thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others.
Overconfidence
The state of being excessively confident, to the point of having an unrealistic perception of one's abilities or outcomes.
Hindsight Bias
The tendency to believe, after an event has occurred, that one would have predicted or expected the outcome, also known as the "knew-it-all-along" effect.
Confounding Variable
An external factor in a research study that correlates with both the dependent and independent variables, potentially skewing results.
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