A) The belief that past outcomes were foreseeable
B) The tendency of people to value something more once they own it
C) The influence of the first piece of information encountered when making decisions
D) The preference for outcomes that are certain over uncertain ones

A) The tendency for individuals to overestimate their abilities and knowledge
B) The tendency to follow the crowd without critical thinking
C) The preference for maintaining the status quo
D) The fear of missing out on opportunities

A) Recency bias
B) Loss aversion
C) Choice overload
D) Framing effect

A) People make decisions based on the context in which options are presented
B) People favor choosing the default option
C) People are more sensitive to losses than gains of the same value
D) People tend to overestimate the probability of rare events

A) By forcing people to comply with regulations without question
B) By limiting the number of options available to individuals
C) By making certain options more prominent or noticeable, influencing choices
D) By disregarding the emotional aspects of decision-making

A) The endowment effect
B) Confirmation bias
C) Anchoring effect
D) Recency bias

A) The tendency to conform to social norms in decision-making
B) The belief that people always make perfectly rational decisions
C) The practice of making decisions with limited information
D) The idea that people's decision-making is limited by cognitive constraints and biases

A) People tend to follow social norms
B) People are more likely to make a decision when presented with limited options
C) People assign different values to the same object based on ownership
D) People seek out information that confirms their existing beliefs while ignoring contradictory evidence