When decision makers assess the likelihood of an event based on how closely it resembles other events or sets of events, they are using ________.
A)availability bias
B)framing bias
C)confirmation bias
D)selective perception bias
E)representation bias

Question

Quizplus · Accepted Answer

This refers to the Representation Bias, which is a cognitive bias that occurs when people make judgments about the probability of an event based on how closely it resembles other events or sets of events. This can lead to inaccurate assessments of the likelihood of an event because people may focus too much on its surface-level characteristics, rather than considering its underlying probability or statistical likelihood.

When Decision Makers Assess the Likelihood of an Event Based