The tendency to not avoid loss altogether in certain economic decisions is called:
A) availability heuristic.
B) confirmation bias.
C) fairness bias.
D) affect heuristic.

Question

Quizplus · Accepted Answer

The tendency to not avoid loss altogether in certain economic decisions is called fairness bias, which means people weigh the possibility of loss and gain equally and consider both in making decisions. The other options listed are different cognitive biases.

The Tendency to Not Avoid Loss Altogether in Certain Economic