Examlex
Colby is a new interviewer who just finished an interview with Renee. Her professional style and her flawless grooming immediately struck him. Colby gave Renee a very good evaluation although her previous work experience and educational background were not that exceptional. What rating error did Colby succumb to?
Working Diligently
Refers to the act of putting consistent and earnest effort into one's tasks or duties.
Moral Hazard
A scenario in which an entity is prone to engage in risky behaviors knowing that another party will shoulder the consequences of such risks.
Adverse Selection
Adverse selection also pertains to the tendency of those in dangerous jobs or high-risk lifestyles to acquire life or health insurance to a greater extent than those with lower-risk profiles, thereby distorting the market.
Unobservable Actions
Actions taken by individuals or entities that cannot be seen or measured directly, often relevant in contexts of performance evaluation or trust.
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