Question
Underestimating the time and cost necessary to complete a project best demonstrates the framing effect. the planning fallacy. the availability heuristic divergent thinking.
Answer
4.7
(261 Votes)
Meryl
Elite · Tutor for 8 years
Answer
B
Explanation
The options provided all are psychology terms that refer to cognitive biases or mental processes that can influence judgement or decision-making. The framing effect refers to how presenting the same option in different frames can alter people's decisions. The availability heuristic is a mental shortcut whereby evaluations are made based on the ease with which examples or instances come to mind. Divergent thinking is a thought process used for brainstorming many diverse creative ideas to solve a problem.In contrast, the 'planning fallacy' is a cognitive bias that causes us to underestimate the time and resources necessary to complete a project. This term matches the description provided in the question, which determines the answer. The planning fallacy was first proposed by Daniel Kahneman and Amos Tversky in 1979.