Multiple Choice
John wants to buy a scented candle for his girlfriend. He recalls that her perfume, shampoo, and body lotion all smell like flowers, so he decides to buy her a flower-scented candle. His behavior is driven by:
A) a heuristic, because he is using a rule of thumb to make his decision.
B) the endowment effect, because his girlfriend already owns flower-scented goods.
C) loss aversion, because he doesn't want to make the wrong choice.
D) status quo bias, because he decides not to deviate from his girlfriend's usual scent.
Correct Answer:

Verified
Correct Answer:
Verified
Q41: Status quo bias is:<br>A)when a person's choice
Q42: Time inconsistency describes:<br>A)a situation in which we
Q43: In the arena of decision-making, status quo
Q44: An example of a heuristic is:<br>A)predatory lending.<br>B)a
Q45: The Save More Tomorrow (SMarT)program, which offers
Q47: The average person is more likely to
Q48: Psychological research shows that choices that involve
Q49: If choice architects frame choices in terms
Q50: People's preferences about the present are _
Q51: Your roommate tells you she's going to