In the Context of Biases and Heuristics That Affect an Individual's

question 43

Multiple Choice

In the context of biases and heuristics that affect an individual's decision-making strategies,_____ refers to the fact that people are reluctant to give up on a venture because of past investment.

• A)sunk cost fallacy
• B)endowment effect
• C)hindsight bias
• D)object permanence

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Definitions:

Adaptive Response

The ability of an organism or organization to modify or change its behavior or processes in response to changes in its environment.

Psychological Demands

The cognitive and emotional requirements or stressors associated with a job role.

Exhaustion

A state of extreme physical or mental fatigue, often resulting from stress or overwork.

Type A Personality

The Type A personality is characterized by being highly competitive and highly focused on work with few interests outside of work.