Based on his recollection of a recent product failure, Abdul, the manager of a company, decides not to invest in a new product, even though the readily available information is infallible and irrelevant. This is an example of _____.
A) confirmation error
B) framing error
C) availability bias
D) escalating commitment
E) anchoring bias

Question

Quizplus · Accepted Answer

Abdul's decision not to invest in a new product is based on his availability bias, where he relies on his recent recollection of a product failure rather than objective information about the new product.

Based on His Recollection of a Recent Product Failure, Abdul