Essay
Explain the behavior bias being made in the following scenarios.
a. A baseball team offers a lottery for the random chance to buy season tickets at a deep discount. The fans who paid full price for season tickets are more likely to attend games than the fans who bought discounted season tickets.
b. A person prefers $50 today to $100 one year from now but prefers $100 in six years to $50 in five years.
c. A person is more likely to drive across town to save $5 on the purchase of a $10 calculator than drive across town to save $5 on the purchase of a $100 coat.
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a. The fans who paid full ticket price p...View Answer
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