Reliance on expert opinion to predict consumer behavior has the advantage of being a relatively low cost approach to gathering information.In many situations,however,it is subject to several sources of bias that can undermine its reliability.

Question

Quizplus · Accepted Answer

Expert opinion may be biased by the expert's own experiences, opinions, and assumptions, as well as by the specific context in which the opinion is given. Therefore, while reliance on expert opinion can provide some information about consumer behavior, it should be supplemented by other sources of data to ensure accuracy and reduce bias.

Reliance on Expert Opinion to Predict Consumer Behavior Has the Advantage