Asked by
Amber Parks
on Nov 29, 2024Verified
When given a comparable choice between a certain outcome and a risky outcome, people generally choose the
A) risky outcome, regardless of whether the situation involves gains or losses.
B) certain outcome, regardless of whether the situation involves gains or losses.
C) risky outcome if the situation involves gains; certain outcome if the situation involves losses.
D) certain outcome if the situation involves gains; risky outcome if the situation involves losses.
Certain Outcome
An outcome that is guaranteed or known to happen without any doubt.
Risky Outcome
A potential result of an action or decision that involves uncertainty and the possibility of negative consequences.
- Recognize the cognitive biases and heuristics contributing to consistent mistakes in decision-making processes.
Verified Answer
KS
Learning Objectives
- Recognize the cognitive biases and heuristics contributing to consistent mistakes in decision-making processes.
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