Outcome Bias Occurs When the Appropriateness of a Decision, Rather

question 118

True/False

Outcome bias occurs when the appropriateness of a decision, rather than the outcome of a decision, influences an evaluator's ratings.

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Definitions:

Consumer Protection Legislation

Laws and regulations designed to ensure the rights of consumers are protected and to promote fair trade, competition, and accurate information in the marketplace.

Consumer Protection Legislation

Laws enacted to ensure the rights of consumers are protected, aiming to prevent businesses from engaging in fraud or specified unfair practices.

Caveat Emptor

A Latin phrase meaning "let the buyer beware," indicating that the buyer assumes the risk regarding the quality and condition of the product being purchased.

Freedom Of Contract

The principle that individuals have the liberty to choose who they enter into contracts with and the terms of those agreements.