Multiple Choice
A friend of yours recommends a stock based upon a "hot tip." You purchase it, and it subsequently declines the following year. Your friend advises you to purchase more at the lower price, despite clear evidence that this is not a sound company. Which of the following cognitive biases is being displayed by your friend?
A) projection
B) cognitive dissonance
C) escalation of commitment
D) frequency
Correct Answer:
Verified
Correct Answer:
Verified
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