You are the manager of a retail store. You believe the economy is in a recession and that sales for the month will be unusually slow. Since you have complete discretion over the pricing at your location, you decide to have a store-wide sale and offer 10 percent off all merchandise for a 3-day period. You don't expect your superiors to criticize this decision as you believe they, along with the majority of the other store managers, feel the same way about the economy as you do. Which one of the following applies to you?
A) Recency bias.
B) Law of small numbers.
C) Gambler's fallacy.
D) False consensus.
E) Money illusion.

Question

Quizplus · Accepted Answer

You are exhibiting false consensus by assuming that your superiors and other store managers share your belief about the economy without having direct evidence of their opinions.

You Are the Manager of a Retail Store