Discuss the Behavioral Bias of "Relativism

question 39

Essay

Discuss the behavioral bias of "relativism." Give an example of how it can lead to a
wrong decision.

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Definitions:

Mediator

A neutral third party who assists in resolving a dispute or conflict through dialogue and negotiation without taking sides.

Sarbanes-Oxley Act

A U.S. federal law enacted in 2002 to protect investors from fraudulent financial reporting by corporations, introducing stringent requirements for corporate governance and financial practices.

Legal Accountability

The requirement for individuals or organizations to be answerable to laws and regulations, facing consequences for legal violations.

Financial Accountability

The obligation of individuals or organizations to explain how their money was spent and to demonstrate that they have used resources efficiently and effectively.