In Reaching a Decision, the Alternative with the Lowest Cost

question 195

True/False

In reaching a decision, the alternative with the lowest cost should be ranked number 1.

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Definitions:

Self-serving Bias

The common tendency to attribute successes to personal characteristics and failures to external factors.

Situational Factors

External influences or conditions that affect decision-making, behavior, or performance in varying scenarios.

External-unstable Factor

refers to outside influences that can affect behavior or outcomes but are inconsistent and unpredictable, such as luck or chance.

Pessimistic Explanatory

A cognitive style where individuals habitually attribute negative events to stable, global, and internal causes.