In Competitive Markets, People Who Have Systemic Biases Are Likely

question 50

Multiple Choice

In competitive markets, people who have systemic biases are likely to:

• A) increase over time.
• B) exit the market over time or adjust their behaviors.
• C) have a comparative advantage over their rational counterparts.
• D) never enter markets and participate in them.

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Definitions:

Knowledge

Information, understanding, and skills acquired through experience or education; the theoretical or practical understanding of a subject.

Attitudes

Mental and emotional entities that embody an individual's degree of like or dislike for an item, which influence their thoughts and behavior toward it.

Reliability

Is the degree to which procedures yield consistent results.

Generalizability

The extent to which findings from a particular study or research can be applied across different settings, populations, or contexts.