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The Psychological Rewards of Inventing a New Product Generally Result

question 111

Multiple Choice

The psychological rewards of inventing a new product generally result in ____ profits for entrepreneurs.


Definitions:

Confirmation Bias

The bias towards finding, interpreting, selecting, and recollecting evidence in ways that validate one's prior beliefs or notions.

Hindsight Bias

The tendency to believe, after learning an outcome, that one would have foreseen it, known also as the "I-knew-it-all-along" effect.

Eyewitness

A person who directly observes an event, like a crime, and can provide testimony about what happened.

Memory Accuracy

The extent to which a person's recollection of past events or information is correct and free from errors or distortions.

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