Chat with AI
Microeconomics 20th Edition by McConnell, Sean Flynn, Stanley Brue
Edition 20ISBN: 978-1308221281Microeconomics 20th Edition by McConnell, Sean Flynn, Stanley Brue
Edition 20ISBN: 978-1308221281 Exercise 3
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 priced 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."
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 priced 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."
Explanation
Verified
Verified
a.
Hindsight bias:
Hindsight is bias r...
Microeconomics 20th Edition by McConnell, Sean Flynn, Stanley Brue
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
