Stephon knows someone whose brother received a very lucrative contract to play professional basketball for the National Basketball Association (NBA). With this success story in mind, he ignores the statistics that indicate a very low probability that anyone will make it to the NBA and overestimates his own chances of making it. This scenario best illustrates ______.

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19-03-2020
Social Studies

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Stephon knows someone whose brother received a very lucrative contract to play professional basketball for the National Basketball Association (NBA). With this success story in mind, he ignores the statistics that indicate a very low probability that anyone will make it to the NBA and overestimates his own chances of making it. This scenario best illustrates ______.

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nuhulawal20 nuhulawal20 · Answer 1 · 2020-03-20T05:05:02+01:00

Answer: The base-rate fallacy

Explanation: The base rate fallacy also refered to as base rate bias is the tendency of an individual to erroneously predict the likely outcome of a situation by over looking all relevant data that was supposed to be taken into account. It is the preference of individuating information over relevant data. Stephon over looked the statistical data that his chance of making it into the NBA is low and prefer to go with the individuating information about how his friend's brother receives a lucrative contract to play for the NBA. This situation best illustrates base-rate fallacy.