Mark,the manager of a company,decides not to invest in a new product based on his recollection of a recent product failure,even though the readily available information is infallible and irrelevant.This is an example of ________.
A)confirmation error
B)framing error
C)availability bias
D)escalating commitment
E)anchoring bias

Question

Quizplus · Accepted Answer

This is an example of availability bias, where Mark is relying on his recollection of a recent product failure instead of considering the readily available, accurate information regarding the new product. Availability bias occurs when individuals make judgments based on what is easily available from their memory or experience, rather than considering all relevant information.

Mark,the Manager of a Company,decides Not to Invest in a New