After taking two years of economics courses, Lionel thinks he knows enough about business to become a millionaire. Lionel should become more aware of

Question

Quizplus · Accepted Answer

Lionel is displaying overconfidence bias, which means he is too confident in his abilities and knowledge about the business. This can lead to poor decision making and failure in entrepreneurship. Knowing about the availability heuristic or bilingual advantage may not necessarily help him avoid this bias. Belief perseverance could be related but is not as directly applicable to Lionel's situation.

After Taking Two Years of Economics Courses, Lionel Thinks He