Our Tendency to Believe We Have Some Control Over Our

question 12

Multiple Choice

Our tendency to believe we have some control over our world and our destiny and that we can predict the outcome of random events is the ________.

• A) overconfidence bias
• B) randomness error
• C) bounded rationality
• D) intuitive decision making
• E) selective perception

Recognize the impact of cultural differences on international business operations and employee training.

Identify challenges and strategies in training and developing a global workforce.

Comprehend the diversity in compensation and benefits expectations across different countries.

Understand the nuances of giving and receiving performance feedback in a global context.

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Definitions:

Tit-For-Tat

A strategy in game theory where a player replicates an opponent's actions, commonly used in the context of cooperative and retaliatory behaviors.

Prisoner's Dilemma

A fundamental problem in game theory showing that two individuals acting in their own self-interest do not produce the optimal outcome.

Game Theory

A branch of mathematics and economics that studies the strategic interaction among rational decision-makers, using models to predict outcomes in competitive situations.

Pure Strategy Equilibria

A game theory concept where each player chooses a single strategy that results in no player having an incentive to unilaterally change their choice.