Your friend gives you an item. A day later, they offer to trade you another item of similar value. According to the endowment effect, most people would keep the itemโฆ
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thief
Give points!
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25
gold
Win 50 points!
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fairy
Take points!
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lifesaver
Give 20 points!
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15
Which of the following scenarios BEST demonstrates FOMO (Fear of Missing Out)?
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15
Investments of time, effort, and money that cannot be recovered are...
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15
Which of the following is an example of how someoneโs PHYSICAL values can influence their financial decisions?
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15
Unlike traditional economics, behavioral economics believes thatโฆ
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15
Due to hedonic adaptation, what do you expect would happen to Anu's level of happiness after buying a new jacket?
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baam
Lose 20 points!
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seesaw
Swap points!
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shark
Other team loses 25 points!
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baam
Lose 15 points!
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15
People who experience FOMO may...
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15
You spend an entire Saturday going to car dealerships in search of a used car. You spend hours looking at cars and even test drive a few, but there are none you like that fit your budget. What is the sunk cost you should ignore when decidin
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15
Overconfidence bias may lead the majority of Americans to think that they areโฆ
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15
Which of the following is the LEAST likely to influence a personโs financial decisions?
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15
Which of the following actions is the BEST way to counteract loss aversion when making a decision?
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heart
Other team wins 15 points!
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star
Double points!
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rocket
Go to first place!
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thief
Give points!
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15
After learning about hedonic adaptation, Tamara wants to spend her money more wisely. Which of the following might help her do so?