Examlex
Match each statement with the correct term below.
-Section 179 expense
Lack-of-participation Error
A bias or error in decision-making that occurs when not all stakeholders or team members are involved or engaged in the process.
Anchoring and Adjustment Bias
A cognitive bias where an initial piece of information (anchor) influences subsequent judgments or decisions, leading to potential errors in estimation.
Representativeness Bias
A cognitive bias in decision-making where the likelihood of an event is estimated based on how similar it is to the population of interest or its parent population.
Availability Bias
A cognitive bias that causes people to overestimate the probability of events associated with memorable or vivid occurrences.
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