President Bush's refusal to admit mistakes in the decision-making process in Iraq and President Johnson's similar refusal to admit mistakes in Vietnam are examples of
A) rational decision making.
B) bounded rationality.
C) prospect theory.
D) satisficing.
E) unintended consequences.

Question

Quizplus · Accepted Answer

Prospect theory explains how people make decisions in situations of risk and uncertainty, often leading them to avoid admitting mistakes to prevent perceived losses.

President Bush's Refusal to Admit Mistakes in the Decision-Making Process