Examlex
Which of the following duties is performed by the president of the United States as the head of state?
Loss Aversion
Oversensitivity to loss, leading to an unwillingness to recognize a loss and move on.
Mental Accounting
The habit of mentally assigning dollars to different accounts so that some dollars are worth more than others.
Overconfidence
The phenomenon where an individual's subjective confidence in their judgments is reliably greater than their objective accuracy.
Irrational Decisions
Choices made by individuals that contradict the best outcome from a rational point of view, often influenced by biases or lack of information.
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