Which of the following describes how thoughts are influenced by mental shortcuts, misperception, and emotional biases

Question

Quizplus · Accepted Answer

Irrational economic thinking describes how thoughts are influenced by mental shortcuts, misperception, and emotional biases. Loss aversion and prospect theory are both examples of specific biases within this category, but do not encompass the broader concept of irrational economic thinking. Rational economic thinking refers to a more logical, objective approach to decision making.

Which of the Following Describes How Thoughts Are Influenced by Mental