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Which characteristic does not describe a perfectly competitive market?
Self-Serving Bias
Self-serving bias is the tendency to attribute positive events to one's own character but attribute negative events to external factors, affecting judgment and decision-making.
Planning Fallacy
The optimistic cognitive bias that leads individuals or teams to underestimate the time, costs, and risks of future actions, while overestimating the benefits.
Overconfidence Effect
A cognitive bias where people overestimate their own abilities, knowledge, or predictions.
Behavioral Economics
A branch of economics concerned with understanding how the economic behaviors of individuals and institutions are impacted by factors like psychology, cognition, emotions, culture, and society.
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