Overconfidence Bias

question 19

Multiple Choice

Overconfidence bias

• A)is the tendency of decision makers to be influenced by the way that problems are framed.
• B)occurs when looking backward in time where mistakes seem obvious after they have already occurred.
• C)refers to the tendency for individuals to rely too heavily on a single piece of information.
• D)occurs when individuals overestimate their ability to predict future events.

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Definitions:

Largest Proportion

The biggest part or share when comparing amounts or sizes within a whole.

Initial Proletarianization

The early process of transforming agrarian or semi-feudal societies into industrial ones, where the mass of the population begins to receive wages for labor instead of living off the land.

Industrial Working Class

A socio-economic class comprised of individuals employed in industrial sectors, often involving manual labor and receiving wages for their services.

Craft Workers

Skilled laborers who produce goods or provide services with a particular expertise, often by hand or using traditional methods.