John is buying a scented candle for his girlfriend.John thinks about her flower-scented perfume,flower-scented air spray,and flower-scented shampoo.He decides to buy her a flower-scented candle.His behavior is:
A) using a heuristic called a rule of thumb.
B) an example of the endowment effect because she already has flower-scented goods.
C) an example of loss aversion because he doesn't want to make the wrong choice.
D) an example of status quo bias because he doesn't want to deviate from her normal choice of scent.

Question

Quizplus · Accepted Answer

John is using a heuristic called a rule of thumb by choosing a scent that is familiar to him based on his girlfriend's other flower-scented products. He is making a quick decision based on limited information and prior experience.

John Is Buying a Scented Candle for His Girlfriend