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Questions and Answers
What cognitive bias causes individuals to base their decisions on readily available information?
What cognitive bias causes individuals to base their decisions on readily available information?
- Sunk Cost Fallacy
- Hindsight Bias
- Confirmation Bias
- Availability Heuristic (correct)
Which bias leads individuals to focus on the first piece of information they receive when making a decision?
Which bias leads individuals to focus on the first piece of information they receive when making a decision?
- Framing Effect
- Anchoring and Adjustment (correct)
- Outcome Bias
- Overconfidence Bias
When individuals underestimate the importance of other relevant information and instead rely on easily recalled examples, they are likely affected by which bias?
When individuals underestimate the importance of other relevant information and instead rely on easily recalled examples, they are likely affected by which bias?
- Confirmation Bias
- Representativeness Heuristic
- Availability Heuristic (correct)
- Recency Bias
Which cognitive bias involves individuals making decisions based on past events that seem more predictable after they have already occurred?
Which cognitive bias involves individuals making decisions based on past events that seem more predictable after they have already occurred?
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What is the cognitive bias that causes individuals to overemphasize the importance of information that was presented last or most recently?
What is the cognitive bias that causes individuals to overemphasize the importance of information that was presented last or most recently?
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