Optimal Efficiency Often Demands One Uniform Federal Rule Rather Than

question 48

True/False

Optimal efficiency often demands one uniform federal rule rather than a patchwork of 50 state rules.

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Definitions:

Belief Perseverance

The tendency to maintain a belief even after the evidence supporting it has been discredited or refuted.

Overconfidence

The phenomenon where an individual's belief in their own abilities exceeds the accuracy of those abilities.

Framing Effect

A cognitive bias where people react differently based on the way information is presented to them, demonstrating how context and framing can influence decision making.

Representativeness Heuristic

A mental shortcut used to make judgments about the probability of an event under uncertainty, based on how similar it is to our typical idea of the event.