When Decision Makers Assess the Likelihood of an Event Based

question 98

Multiple Choice

When decision makers assess the likelihood of an event based on how closely it resembles other events or sets of events, they are using ________.

• A) selective perception bias
• B) representation bias
• C) framing bias
• D) availability bias

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Definitions:

Duty

A moral or legal obligation; a responsibility that one is required to perform in a social, legal, or professional context.

Performance

The execution of duties or actions stipulated by a contract.

Third Party

An entity involved in a transaction or legal situation who is neither the first (often the buyer or claimant) nor the second (often the seller or defendant) principal party.

Express Condition

A specific and explicitly stated requirement in a contract that must be met for contractual obligations to be fulfilled.