Illusion of control, discounting the future, and framing effects are all examples of
A)social realities.
B)psychological biases.
C)goal displacement.
D)vigilance.
E)time pressures.

Question

Quizplus · Accepted Answer

The three concepts listed are all cognitive biases or errors in thinking that can affect decision making. The illusion of control refers to the tendency to overestimate one's ability to control or influence an outcome. Discounting the future involves placing too much emphasis on immediate rewards or benefits, while ignoring long-term consequences. Framing effects occur when the way information is presented or framed (i.e. positively or negatively) can influence decision making. All three of these biases are examples of psychological processes that can affect judgment and decision making.

Illusion of Control, Discounting the Future, and Framing Effects Are