When preparing for her yard sale,Betty overinflated the price of her favorite doll from childhood because she was so emotionally attached to it.A potential buyer offered a price that Betty thought was too low,but Betty said she would compromise and meet the potential buyer in the middle of their two offers.The potential buyer,who was a doll expert,told Betty the price was still too high based on its market value.Betty still thought the price she set was reasonable and that the potential buyer was trying to deceive her,and she would not lower her price.The price that Betty asked for the doll was influenced by:
A) Unrecoverable costs.
B) Framing
C) Selective attention
D) The endowment effect.
Correct Answer:
Verified
Q1: In order to be effective in influencing
Q3: It is not advisable to focus on
Q4: Biases are mainly:
A)Stereotypes.
B)Unconscious.
C)Confirmation traps.
D)Conscious.
Q5: Mispredicting the intensity or duration of the
Q6: Paul is a negotiator who keeps distracting
Q7: The "fixed pie" assumption is related to:
A)The
Q8: Perceptual decision-making errors can be caused by
Q9: Reactive devaluation is an example of:
A)Cognitive bias.
B)Perception
Q10: John booked a flight on Fly-by-Night airline
Q11: 12_and _contribute to ignoring sunk costs.
A)Confirmation trap
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