Confidence Estimates, Trial-And-Error Calibration, and Healthy Skepticism Are Tactics Used

question 22

True/False

Confidence estimates, trial-and-error calibration, and healthy skepticism are tactics used to overcome judgment biases.

---

Definitions:

Public Good

A good that is non-excludable and non-rivalrous, meaning it can be used by everyone and one person's use doesn't reduce its availability to others.

Total Damage

The cumulative harm or loss resulting from an action or event, encompassing both material and immaterial impacts.

Market Level

A term denoting the scope or extent of a given market, which can range from local to global, affecting strategies and operations of businesses within.

Externality

A consequence of an economic activity experienced by unrelated third parties; can be positive or negative, affecting others not involved in the transaction.