Outcome Fairness Is the Process Used to Determine the Outcomes

question 14

True/False

Outcome fairness is the process used to determine the outcomes received.

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Definitions:

Availability Heuristic

A cognitive bias that causes people to overestimate the likelihood of events based on their ability to recall examples more easily.

Confirmation Bias

The habit of looking for, comprehending, selecting, and reminiscing about information that validates an individual's prior convictions or theories.

Hindsight Bias

The tendency to believe, after learning an outcome, that one would have foreseen it, also known as the "knew-it-all-along" effect.

Timing Bias

A form of cognitive bias where an individual's decisions or perceptions are influenced by the timing of information or events.