The tendency for decision-makers to be influenced by the way a situation or problem is presented to them is known as the ________ bias.
A. overconfidence.
B. escalation of commitment bias.
C. hindsight.
D. availability.
E. framing.
E. framing.
The framing bias is the tendency of decision makers to be influenced by the way a situation or problem is presented to them. For instance, customers have been found to prefer meat that is framed as "85% lean meat" instead of "15% fat," although of course they are the same thing.
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A contingent liability is recorded in the accounting records
a. if the contingency has not been described already in the notes to the financial statements. b. if it possibly will become an actual liability and the exact amount is known. c. under no circumstances. d. if it probably will become an actual liability and the amount can be reasonably estimated.
When Smith Builder's Designer House #201 is completed, Smith's
A) Work in Process Inventory is increased. B) total assets are increased. C) Work in Process Inventory is decreased. D) total assets are decreased.
In New Zealand, identified barriers to employment of former welfare recipients included:
a. The minimum wage was below compensation being received from welfare benefits. b. Only a limited number of jobs were made available. c. Prospective employees were unable to pass the government employment test. d. affordable childcare and transportation
The slogan from the GEICO ads, "15 minutes could save you 15 percent or more on your car insurance," is an example of which of the following elements of the communication process?
A. receiver B. source C. message D. encoder E. feedback