Business, 20.02.2020 19:16 anhthule1011

Tom knows that the title insurance company made a mistake on his property title. Because of their mistake, his neighbor now has access to an easement road through the 25 acres located at the back of his property. He can't use the acreage for pasture, because his neighbor insists that the gates remain open. The title company has offered a $40,000 settlement. Tom has decided to take the settlement rather than possibly lose in court if he were to sue the title company for more money. Tom's decision is based on .a. hindsight bias.
b. escalation of commitment.
c. availability bias.
d. risk aversion.
e. randomness error.

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Tom knows that the title insurance company made a mistake on his property title. Because of their mi...

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