The Bandwagon Effect, a Common Decision-Making Bias, Is ________

question 3

Multiple Choice

The bandwagon effect, a common decision-making bias, is ________.

• A) the characteristic of an individual who prefers to avoid losses rather than acquire gains
• B) the tendency to believe certain outcomes because others believe the same
• C) the tendency to believe that our forecasts are better than they truly are
• D) the tendency to search for information that supports one's preconceived beliefs
• E) an individual's tendency to believe that he/she is less susceptible to risky events

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Definitions:

Religious Dogma

A system of beliefs, doctrines, or principles set forth by a religious authority as incontrovertibly true.

Exploitation

The act of treating someone unfairly by using their work or ideas and giving them very little in return.

Working Class

A socioeconomic group characterized by individuals in manual labor occupations or those who earn wages rather than salaries, often without extensive formal education.

Capitalists

Individuals or entities that own capital, invest in businesses, and seek to generate profits.