One Major Consequence of the Overconfidence Effect Is That

question 35

Multiple Choice

One major consequence of the overconfidence effect is that

• A)some people cannot correct a personal trait that might be causing them to fail in many ventures.
• B)someone could persist in pursuing a failed policy despite overwhelming evidence of the failure.
• C)bad decisions can be made because people will act based on irrelevant information.
• D)some people may wrongly believe in their forecasting ability to predict future outcomes of risky investments.

Understand the dynamics of attitude activation and its impact on behaviour.

Understand the concept of social representations and their significance in cognitive structures grounded in social groups.

Recognize the role of values in shaping attitudes and behaviors.

Differentiate between various types of values and their applications in societal contexts.

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Definitions:

Threatened Regulation

When businesses or industries adjust their practices in anticipation of potential government regulations that could impact their operations.

Enlightened Self-interest

A philosophy or behavior motivated by understanding that one's own best interest is served by acting in the best interest of others or a community.

Societal Problems

Issues and challenges that affect individuals within a society broadly, often requiring collective efforts for resolution.

Social Responsibility Strategy

A company's approach or plan to contribute to societal goals, well-being, and sustainable development beyond its financial interests.