When a decision making wrongly comprises of two situations because of perceived similarity or evalua...........

Decision making and Interpersonal Skills Decision making

When a decision making wrongly comprises of two situations because of perceived similarity or evaluates an event without comparing it to the similar situations, the tendency is known as :

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Nabard grade-A,Previous year Memory Based Paper 18 Sept,2021

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Overconfidence Bias

Confirmation Bias

Hindsight Bias

Availability Bias

Representative Bias

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Explanation:

- Overconfidence Bias: This is when someone has excessive confidence in their knowledge or judgments, often leading to overestimations of their abilities or the accuracy of their information.

- Confirmation Bias: This bias occurs when individuals favor information that confirms their pre-existing beliefs or hypotheses, ignoring or undervaluing evidence that contradicts their views.

- Hindsight Bias: Also known as the "knew-it-all-along" effect, this bias happens when people see events as having been predictable after they have already occurred.

- Availability Bias: People tend to rely on immediate examples that come to mind when evaluating a topic, concept, decision, or problem, leading to skewed judgements based on familiar examples rather than complete information.

- Representative Bias: This is when people incorrectly believe that similar situations can predict an outcome just because they appear similar, without considering statistical probability or other relevant data.

Your answer is right. Representative Bias is the correct option.