The ________ Is a Cognitive Bias That Leads People to Prefer

question 148

Multiple Choice

The ________ is a cognitive bias that leads people to prefer things to change as little as possible.

• A) status quo bias
• B) gambler's bias
• C) hot-hand fallacy
• D) gambler's fallacy
• E) hot-hand bias

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Definitions:

Discharging Contract

Discharging a contract refers to the process by which parties are released from their obligations under the contract, for reasons such as fulfillment of the contract terms, mutual agreement, or impossibility of performance.

Third Party

An entity that is not directly involved in a transaction or agreement but may be affected by it or have an interest in it.

Obligee

The party in a contract who is entitled to receive a performance or service from another party (the obligor).

Donee Beneficiary

A donee beneficiary is someone who benefits from a contract in which the promisor agrees to give a gift or confer a benefit to the beneficiary.