James Spent Months Developing a Theory of Decision Making

question 90

Multiple Choice

James spent months developing a theory of decision making. But in an experimental test, only half of the participants responded as his theory predicted. James concludes that the rest of the subjects did not understand the directions and proclaims that the experiment is evidence in favor of his theory. This is an example of the

• A)confirmation bias.
• B)conversion effect.
• C)"eureka" phenomenon.
• D)gambler's fallacy.

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Definitions:

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Payment made by a tenant to a landlord for the use of a property, room, or apartment for a specified period.

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Extraordinary profits earned by a monopoly due to its unique position of having no competition, allowing for higher prices and lower production.

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A term for a medication that has an unexpectedly profound and beneficial effect on patients.