Question

D Question 17 5 pts is the tendency to avoid making a decision altogether. O Overconfidence O Opportunity cost Status quo bias Mental accounting

Answer 1

C.) Status quo bias

The tendency to avoid making a decision altogether is status quo.

Status quo bias is an emotional bias; a preference for the current state of affairs.

Mental accounting refers to the tendency for people to separate their money into separate accounts based on a variety of subjective criteria, like the source of the money and intent for each account.

Opportunity cost refers to a benefit that a person could have received, but gave up, to take another course of action.

The overconfide effect is a well-established bias in which a person's subjective confidence in his or her judgements is reliably greater than the objective accuracy of those judgements, especially when confidence is relatively high.