Managers need to be cautious about biases that can encroach and therefore impact their decisions. Which of the following biases results from believing certain outcomes because others believe the same?
A) Confirmation
B) Loss aversion
C) Bandwagon
D) Overconfidence
E) Unrealistic optimism

Question

Quizplus · Accepted Answer

The bias that results from believing certain outcomes because others believe the same is called the bandwagon bias. This bias can influence decision-making by causing managers to follow the crowd rather than critically evaluating the information and making an independent decision.

Managers Need to Be Cautious About Biases That Can Encroach