1. In a jury selection process, the judge expressed concern about having one of the former US presidents serving as a jury member for the case. The judge's argument was that other jury members' decision might be significantly influenced by the former president's opinion because of his political position and not necessarily his reasoning about the case. The judge's argument is based on which of the following decision-making flaws?

Loss Aversion, Heuristic, Confirmation bias, Sunk-cost fallacy, Halo effect, Groupthink, Anchoring Planning fallacy

2. Unlike in real world where interaction with other people who disagree with you on political matters is inevitable, many social media allow users to block, mute, and unfriend any person that does not agree with their political position. Over time, this can bolster _______ among social media users.

Loss Aversion, Heuristic, Confirmation bias, Sunk-cost fallacy, Halo effect, Groupthink, Anchoring Planning fallacy

3. When planning for his retirement in 30 years, Arya tends to focus so much on the investment options with minimum risk that he overlooks much higher-yielding investment options with reasonable risk. This is an example of _____.

Loss Aversion, Heuristic, Confirmation bias, Sunk-cost fallacy, Halo effect, Groupthink, Anchoring Planning fallacy

4. HeikalGondeh Company pays a bodybuilding champion to endorse their energy drinks. This is because the intuitive thinking mode in people tends to unconsciously associate the success of the bodybuilder with that energy drink, thus creating a positive impression and tendency to purchase that product. This is an example of which of the following cognitive errors?

Loss Aversion, Heuristic, Confirmation bias, Sunk-cost fallacy, Halo effect, Groupthink, Anchoring Planning fallacy