Overconfidence Bias

question 19

Multiple Choice

Overconfidence bias

• A)is the tendency of decision makers to be influenced by the way that problems are framed.
• B)occurs when looking backward in time where mistakes seem obvious after they have already occurred.
• C)refers to the tendency for individuals to rely too heavily on a single piece of information.
• D)occurs when individuals overestimate their ability to predict future events.

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Definitions:

Improper Person

An individual deemed unsuitable or unqualified under certain criteria or regulations.

Criminal

Pertaining to or involving crimes, describing actions that are against the law.

Liability

A financial obligation or amount that an individual or entity owes to another.

Misrepresented Authority

An instance where someone incorrectly asserts or implies they have the power to act on behalf of another party, potentially leading to binding agreements or legal consequences.