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The management board of a construction company decides to invest and expand the business to real estate
The management board of a construction company decides to invest and expand the business to real estate. However, Adam, one of the board members, is skeptical of this idea because he anticipates some trouble. He convinces the other board members to abandon this plan. Adam is proved right when the country's real estate business collapses. In the context of self-serving bias, this scenario exemplifies a phenomenon called:
Expert Solution
The management board of a construction company decides to invest and expand the business to real estate. However, Adam, one of the board members, is skeptical of this idea because he anticipates some trouble. He convinces the other board members to abandon this plan. Adam is proved right when the country's real estate business collapses. In the context of self-serving bias, this scenario exemplifies a phenomenon called: defensive pessimism.
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