Tony ran a marathon in 4.5 hours; his performance last year on the same course was 4 hours. Stacey ran the same marathon in 4 hours; her previous time was 4.4 hours. According to behavioral economists, and based solely on the information given, we would expect

Question

Quizplus · Accepted Answer

Tony's time worsened from 4 hours to 4.5 hours, likely leading him to feel bad about his performance. Stacey improved her time from 4.4 hours to 4 hours, which would likely make her feel good about her performance, according to principles of behavioral economics focusing on loss aversion and the value of improvements.

Tony Ran a Marathon in 4