Everett believes that as long as he pays good wages and treats his workers fairly, he can keep employee turnover to a minimum even though his store is located in a community that is known for having a transient population. Everett's belief is an example of which of the following psychological biases?
A)Illusion of control
B)Framing effects
C)Discounting the future
D)Time pressure
E)Social realities

Question

Quizplus · Accepted Answer

The illusion of control is a belief that one can influence events even when one has no control over what will happen. In business, such overconfidence can lead to failure because decision makers ignore risks and fail to objectively evaluate the odds of success.

Everett Believes That as Long as He Pays Good Wages