Richard runs a supermarket chain. All his stores have been experiencing declining sales for the past one year. Richard blames this depletion in sales on the increasing competition in the market. Which of the following theories best explains Richard's behavior in this scenario?

a. Attribution theory

b. Two-factor theory

c. Equity theory

d. Expectancy theory

Letter a is correct. Attribution theory.

Explanation:

Attribution theory is defined as a theory of social psychology that explains the way in which people attribute causes of behavior to themselves, other individuals and events to external factors.

In this theory, cognitive perception is affected by the collection of information to arrive at causal explanations for events, which impacts their social and professional conduct, which can generate negative behaviors such as errors of judgment and prejudice.