Examlex
Consumer fraud is described as any fraud that:
Mere Exposure Effect
The phenomenon by which people tend to develop a preference for things merely because they are familiar with them.
Hindsight Bias
The tendency to believe, after an event has occurred, that one would have predicted or expected the outcome, also known as the "knew-it-all-along" effect.
Other-Race Effect
This phenomenon describes the tendency to more easily recognize faces of the race that one is most familiar with, which is often their own race.
Cognitive Dissonance
The mental discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time.
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