Examlex
An essential characteristic of a liability is the existence of a present obligation.What does this mean?
Discuss the different types of obligations that may be considered 'present' obligations.
Confirmation Error
The tendency to seek, interpret, and remember information that confirms one's preconceptions or hypotheses, overlooking contradictory evidence.
Availability Bias
A cognitive bias that causes people to overestimate the likelihood of events based on their recall of immediate examples.
Representativeness Bias
A cognitive bias in decision-making where individuals judge probabilities or make judgments based on how much one thing resembles another, often leading to errors in assessment.
Conjunction Fallacy
A logical error where people wrongly assume that specific conditions are more probable than a single general one.
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