Political officials who have no doubt that their own economic and military predictions will come true most clearly demonstrate

Question

Quizplus · Accepted Answer

Political officials who express certainty in their predictions despite the numerous variables and unknown outcomes inherent in economic and military decisions demonstrate overconfidence bias. Hindsight bias (A) refers to the tendency to believe that events were more predictable after they have already occurred. Random sampling (B) refers to a statistical method of selecting a representative sample from a larger population. The placebo effect (D) refers to a phenomenon where individuals experience improvement in symptoms due to the belief that they are receiving a beneficial treatment, even if the treatment itself has no therapeutic value. None of these choices accurately describe the situation described in the question.

Political Officials Who Have No Doubt That Their Own Economic