PSYCH 2800 Study Guide - Final Guide: Risk Aversion, Psych
4 Sep 2016
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Hagen daz ice cream people will pay more for less ounces of ice cream in relative context of the container. But when the two ice cream are put next to each other, people make more rational decision. Mp3 player to encourage people to pick a, you would create c, an asymmetrically dominated option that is worse in both aspects compared to a. To encourage people to b, you would create c, an asymmetrically dominated option that is worse in both aspect compared to b. Saving flipping the word of saving 20% vs living 80% . The language you use is partly the context of the construal. Risk aversion the gain/loss framing causes people to seek risk when it is to prevent loss. Meat people pick 75% lean meat over 25% fat meat. Condoms 95% success rate is more popular among people to choose and to allow advertisement compared to 5% failure rate.
