The Cost at Which the Contractor Assumes Total Responsibility for Each

question 25

Short Answer

 The cost at which the contractor assumes total responsibility for each additional dollar of contract cost is known as a(n) _____.

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Definitions:

Fundamental Attribution Error

A cognitive bias that causes people to overemphasize personal characteristics and ignore situational factors in explaining others' behavior.

Availability Heuristic

A cognitive bias where individuals rely on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.

First Instinct Fallacy

The false belief that it is better not to change one’s first answer on a test even if one starts to think that a different answer is correct.

Upward Counterfactual Thinking

The process of imagining better alternatives to past events, which can have various emotional or motivational effects.