Financial Biases
Think of and share situations/examples where biases such as heuristics, familiarity, representativeness, anchoring, and overconfidence might have influenced financial decision-making. What (if anything) can you do to protect yourself against wrong financial decisions you might make due to these biases in your own personal decision-making.
………..Answer Preview…………With financial temptations all around us, it becomes hard for many people to make the right financial decisions and this leaves many people in hefty financial difficulties (Bazerman & Tenbrunsel, 2011, pg.78). Without a decent break through frame, we all have made biased financial decision-making that has left many of us devastated. A decent through break frame is one of the major aspects that are required before making a financial final decision. Usually, this step is skipped and discounted and has long term impact on an …………….
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