The Bandwagon Effect,a Common Decision-Making Bias,is ________

question 61

Multiple Choice

The bandwagon effect,a common decision-making bias,is ________.

• A)the characteristic of an individual who prefers to avoid losses rather than acquire gains
• B)the tendency to believe certain outcomes because others believe the same
• C)the tendency to believe that our forecasts for future events are better than they truly are
• D)the tendency to search for information that supports one's preconceived beliefs
• E)an individual's tendency to believe that he/she is less susceptible to risky events

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Definitions:

Mortgage

A transfer of an interest in property for the purpose of creating a security for a debt.

Partnership Property

Assets purchased or acquired for the purpose of the partnership business, jointly owned by all partners according to the partnership agreement.

Legal Position

The stance or argument taken on a legal issue, often based on laws, precedents, and principles.

Partnership

A legal form of business operation between two or more individuals who share management and profits.