In Social Psychology, the "Belief That One's Own Project Will

question 99

Multiple Choice

In social psychology, the "belief that one's own project will proceed as planned, even while knowing that the vast majority of similar projects have run late" is known as the ____.

• A) planning fallacy
• B) hourglass bias
• C) Zeigarnik effect
• D) capacity to delay gratification

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Definitions:

Principal-agent Problems

Conflicts of interest and challenges in monitoring that arise in relationships where one party (the agent) is supposed to act in the best interest of another (the principal).

Paradox of Voting

The situation where individual rationality leads to a collective decision that is worse for everyone involved.

Principal-agent Problems

Situations where there is a conflict of interest between a principal (such as an owner or shareholder) and an agent (such as a manager), due to diverging goals or asymmetrical information.

Industrial Regulation

Government rules and regulations aimed at controlling the activities, standards, and behaviors within specific industries to ensure fairness, safety, and competition.