The Two Biases of Intuition Discussed in the Text Are

question 51

Multiple Choice

The two biases of intuition discussed in the text are:

• A)Being swayed by a good story and being persuaded by what comes easily to mind
• B)The present-present bias and the confederate bias
• C)Probabilistic thinking and nonintuitive thinking
• D)Overconfidence bias and oversimplification bias

---

Definitions:

Additional Costs

Are extra costs that may not have been initially accounted for or that occur beyond the expected costs of production or operations.

Additional Benefits

The perks or supplementary advantages that come in addition to the primary benefits of a product, service, or policy.

Marginal Analysis

Marginal Analysis is an examination of the additional benefits of an activity compared to the additional costs incurred by that same activity.

Relevant Costs

Only those costs that will be affected by a decision or action and therefore should be considered in decision-making.