The Tendency to Look for Supportive Evidence Rather Than Actively

question 84

Multiple Choice

The tendency to look for supportive evidence rather than actively seeking out contradictory evidence is known as

• A)the availability heuristic.
• B)the hindsight bias.
• C)the confirmation bias.
• D)belief perseverance.

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Definitions:

Technologically Progressive

A characteristic of firms or economies that consistently adopt and implement new technologies, leading to growth and development.

Herfindahl Index

A measure of market concentration, calculated by summing the squares of the market shares of all participants in the market.

Market Shares

The portion of a market controlled by a particular company or product, typically expressed as a percentage of the total market.

Four-Firm Concentration Ratio

An economic measure that assesses the concentration of business within an industry, represented by the combined market share of the four largest firms.