
Behavioral economics is …
Guy bought tickets to a concert but there is a bad snow storm. He decides to go anyway because he paid for it. This is
Ally signs up for a Netflix trial. Because she “owns” a full account, she places high value on it and signs up. This is
Peter can choose from two retirement accounts. Fearing a loss, he opts for the more conservative one. This is a type of
Paula sees her friends' pictures of a concert that she couldn't attend because of work. She feels like an outsider.
Which of the following is an example of loss aversion?
Confirmation bias is …
People who win the lottery tend to return to their original levels of happiness after the novelty of winning wears off.
The Fear of Missing Out, or FOMO, is…
The Endowment Effect is …
The irrational ways that we process information & make decisions using our own perspective and incomplete information.
You are new to a city and find two restaurants near each other that offer a similar menu. You pick the more crowded one.
Marie's car has needed over $2000 in repairs. She resists selling it because she has spent so much money. This is...
While researching Apple, Remy tends to focus on positive stories about their profits instead of stories about poor sales
75% of drivers believe that they are above average. Which type of overconfidence is this an example of?
In 2021, many people saw the value of Gamestop stock increasing sharply and purchased the stock too. These buyers were
Which of the following is an example of allowing sunk costs to impact your decision?
Max believes his sense of direction is excellent and refuses to ask for directions. Which overconfidence is he showing?
Overprecision is …