COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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____ describes decision makers who seek out information that reaffirms their past choices and who discount information that contradicts past judgments. Such people tend to accept, at face value, information that confirms their preconceived views and are critical and skeptical of information that challenges these views.
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Confirmation bias
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The framing bias
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The anchoring effect
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Selective perception
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Explanation:
Detailed explanation-1: -Confirmation bias-describes decision makers who seek out information that reaffirms their past choices and who discount information that contradicts past judgments.
Detailed explanation-2: -The correct answer is D) confirmation bias.
Detailed explanation-3: -Evidence. Research has shown that confirmation bias is strong and widespread and that it occurs in several contexts. In the context of decision making, once an individual makes a decision, they will look for information that supports it.
Detailed explanation-4: -The availability bias describes the actions of decision makers who try to create meaning out of random events.
There is 1 question to complete.