Label each of the following behaviors with the correct bias or heuristic. a. Your uncle says that
Question:
Label each of the following behaviors with the correct bias or heuristic.
a. Your uncle says that he knew all along that the stock market was going to crash in 2008.
b. When Fred does well at work, he credits his intelligence. When anything goes wrong, he blames his secretary.
c. Ellen thinks that being struck dead by lightning is much more likely than dying from an accidental fall at home.
d. The sales of a TV that is priced at $999 rise after another very similar TV prices at $1,300 is placed next to it at the store.
e. The sales of a brand of toothpaste rise after new TV commercials announce that the brand “is preferred by 4 out of 5 dentists.”
Step by Step Answer:
Microeconomics Principles, Problems and Policies
ISBN: 978-1259450242
20th edition
Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn