While walking home, you find a $20 bill on the street. This being your lucky day, you immediately treat yourself to dinner at PF Chang's rather than eating old leftover pizza from your fridge. This type of spontaneous behavior is best described as
A) sunk cost fallacy.
B) altruism.
C) overvaluing the present relative to the future.
D) framing bias.

Question

Quizplus · Accepted Answer

Finding unexpected money and deciding to spend it immediately on a treat like dinner, rather than saving it or using it for a more practical purpose, exemplifies overvaluing the present (immediate gratification) at the expense of future benefits (saving the money or eating food already purchased). This behavior reflects a preference for immediate rewards over future gains, which is not directly related to the sunk cost fallacy, altruism, or framing bias.

While Walking Home, You Find a $20 Bill on the Street