Question

110) Carmen was assigned a term paper at the start of her Social Psychology class- Shefigured it would only take two days to write the paper so she did not start it until two daysbefore it was due. Halfway through the second day Carmen was devastated; she wasn’teven halfway done yet! Carmenis underestimation of how long it would take her tocomplete her paper is an example ofA. planning fallacy.B- self-handicapping.

Answer 1

The correct answer is letter A

Explanation: Planning fallacy is the name given to a type of cognitive bias that explains how we humans tend to underestimate the time it will take to complete a task in the future, vowing that it will take less time than it actually will.

The planning fallacy, although it was proposed by Daniel Kahneman and Amos Tversky as part of behavioral finance, affects all areas of your life.