Asked by Daman Preet Dhillon on Jul 16, 2024

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Which of the following cognitive biases refers to people's tendency to attribute their successes to personal ability and effort,and failures to forces outside their control?

A) Overconfidence effect.
B) Confirmation bias.
C) Self-serving bias.
D) Hindsight bias.

Self-Serving Bias

The common habit of a person taking credit for positive events or outcomes, but blaming outside factors for negative events.

Cognitive Biases

Systematic patterns of deviation from norm or rationality in judgment, leading individuals to make illogical decisions.

Overconfidence Effect

A cognitive bias where an individual's subjective confidence in their judgments is greater than their objective accuracy.

  • Acknowledge multiple cognitive biases and their repercussions on economic activities.
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BK
basheer kananJul 19, 2024
Final Answer :
C
Explanation :
The self-serving bias is a cognitive bias in which people tend to attribute their successes to internal factors, such as personal ability and effort, while blaming external factors, such as bad luck or unfair circumstances, for their failures. This bias allows individuals to protect their self-esteem and maintain a positive self-image.