Sophia would like to reduce the amount of time she spends on her phone, but she finds it difficult to stop her behavior. She decides to install an app that limits screen time. If she wants to continue using her phone when the time limit is up, she'll have to uninstall the app. This is an example of:
A) the sunk cost fallacy.
B) a commitment device.
C) time fungibility.
D) re-valuing time preferences.
Correct Answer:
Verified
Q33: Lucas is having trouble keeping his spending
Q34: Eva knows her GPA would greatly improve
Q35: Brett desperately wants to quit smoking, but
Q36: What are sunk costs?
A)Costs that have been
Q37: A couple watching a movie at the
Q39: A commitment device is:
A)an arrangement an individual
Q40: Which of the following is an example
Q41: Economists believe that:
A)every choice has a sunk
Q42: Sandy is a big Star Wars fan
Q43: Tiago has a $3,000 student loan principal
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents