ECONOMICS

Detailed explanation-1: -A self-serving bias is the common habit of a person taking credit for positive events or outcomes, but blaming outside factors for negative events. This can be affected by age, culture, clinical diagnosis, and more. It tends to occur widely across populations.

Detailed explanation-2: -The self-serving bias is the tendency people have to seek out information and use it in ways that advance their self-interest. In other words, people often unconsciously make decisions that serve themselves in ways that other people might view as indefensible or unethical.

Detailed explanation-3: -Impact of the Self-Serving Bias By attributing positive events to personal characteristics, you get a boost in confidence. By blaming outside forces for failures, you protect your self-esteem and absolve yourself from personal responsibility.

Detailed explanation-4: -Self-serving bias is all about taking credit for work success regardless of the situation. Here are some examples: A vendor accepting praise for the on-time delivery of materials one week but blaming shipping freight issues for other delayed packages the next.

Detailed explanation-5: -The self-serving bias refers to the tendency to attribute internal, personal factors to positive outcomes but external, situational factors to negative outcomes.