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When Production Generates a Negative Externality, the True Cost of Production

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When production generates a negative externality, the true cost of production is the


Definitions:

Self-serving Bias

A cognitive bias that involves attributing successes to internal factors and failures to external factors to protect self-esteem.

Fundamental Attribution Error

The tendency to overestimate the influence of personality and underestimate the influence of situational factors when explaining others' behavior.

Self-disclosure

The act of revealing personal information, thoughts, or feelings to others, which can enhance relationship intimacy and trust.

Big Five Model

A theory in psychology that identifies five fundamental personality traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

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