Examlex
Explain the concept of the present value of an annuity.
Confirmation Bias
The tendency to search for, interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses.
Framing Effect
The influence on decision making caused by the way information is presented, rather than the actual information itself.
Base-Rate Error
A cognitive bias where people misjudge the likelihood of an event by ignoring general prevalence.
Availability Heuristic
An intuitive thinking process that leverages readily available examples to evaluate a specific topic, concept, approach, or decision.
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