Examlex
In terms of present value (PV),how much will Joe receive for selling the family business?
Critical Thinking
The objective analysis and evaluation of an issue in order to form a judgment, emphasizing logic, rationality, and skepticism.
Preattention
A cognitive process allowing the brain to focus on relevant stimuli while ignoring irrelevant information.
Base-Rate Information
Fundamental statistics or probabilities that are used for reference or as a baseline in decision-making processes.
Representativeness Heuristic
A mental shortcut that involves making judgments based on how much one thing resembles another, which can lead to biases in decision making.
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