Which of the following is, according to the text, likely a result of our desire not to have been "wrong" about a decision?
A. endowment effect
B. time-inconsistent discounting
C. outcome framing
D. honoring sunk costs
Answer: D. honoring sunk costs
You might also like to view...
______________________________ interprets actions in terms of what benefits we will derive from them, and predicts that we will do whatever is best for us
a. Ethical Egoism b. Hedonism c. Relativism d. Psychological Egoism
Which virtue does Philippa Foot identify as benefiting community rather than self?
A) Temperance B) Charity C) Wisdom D) Courage
Classify the following definition according to its use: to reduce vagueness, to introduce or explain a new or unusual word, to evoke an attitude about something, or to accomplish some other purpose.The "HO" in "HO gauge" stands for "half-O," which refers to an older scale for model trains. HO gauge is one-half the scale of O-gauge, or one-sixty-fourth of full size.
What will be an ideal response?
Hume claims that all human thought begins with:
1. complex ideas. 2. simple ideas. 3. principles of association. 4. impressions.