You Can Either Take the Bus or a Taxi to Your

question 157

Multiple Choice

You can either take the bus or a taxi to your friend's house, and you decide on the bus. After waiting at the bus stop for fifteen minutes, a taxi passes by, but you continue to wait for the bus, having waited so long already. Your decision is influenced by the

• A) sunk cost effect.
• B) availability heuristic.
• C) confirmation bias.
• D) demand characteristic.

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Definitions:

Society For Human Resource Management

A professional organization dedicated to the advancement of human resource practices and the professional development of HR professionals.

Flextime

A flexible work scheduling arrangement that allows employees to choose their work hours within agreed-upon limits.

Participative Management Practices

Management approaches that involve employees in decision making processes to foster a sense of ownership and engagement.

Employee Turnover

The rate at which employees leave a company and are replaced by new personnel.