What Is the False Consensus Effect? What Does Research Suggest

question 107

Short Answer

What is the false consensus effect? What does research suggest is one possible reason we see this effect?

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Definitions:

Depreciation Rates

The rate at which an asset loses its value over time, often used for accounting and tax purposes to reflect the wear and tear, aging, or obsolescence of physical or intangible assets.

Opportunity Costs

The burden of missing out on the subsequent optimal choice during the selection process.

Technological Advances

Innovations and improvements in technology that increase productivity, efficiency, or bring about new products or ways of doing things.

Entrepreneurial Ideas

innovative concepts or proposals that can be developed into profitable business ventures by identifying and fulfilling market needs or solving problems.