Examlex
Use the following information to answer the next few questions.
It is wintertime and your pet lizard has somehow escaped into the backyard.After much searching,you find him basking on a rock in the sun trying to keep warm.
-To conserve heat,it is likely that
Recognition Heuristic
A decision-making process where a more recognized option is chosen over the less familiar one, based on the assumption that recognition is correlated with value.
Behavioral Economics
A method of economic analysis that applies psychological insights into human behaviour to explain economic decision-making.
Self-Serving Bias
Self-serving bias is the tendency to attribute positive events to one's own character but attribute negative events to external factors, affecting judgment and decision-making.
Planning Fallacy
The optimistic cognitive bias that leads individuals or teams to underestimate the time, costs, and risks of future actions, while overestimating the benefits.
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