The Behavior of the Second Highest Bidder in Tiger's (1980)dollar

question 120

Multiple Choice

The behavior of the second highest bidder in Tiger's (1980) dollar auction demonstrates

• A)effective use of the sunk cost principle.
• B)that people do not handle money as carefully as professionals do.
• C)escalation of a counterproductive endeavor.
• D)the fact that people take greater risks when gains are at stake.

---

Definitions:

Adaptation

The process by which organisms adjust to changes in their environment to survive and reproduce.

Promotes Survival

Refers to any trait, behavior, or strategy that increases the likelihood of an organism's survival and reproduction in its environment.

Turing Test

A means of determining if artificial intelligence is conscious, self-directed intelligence.

Conversations

Informal exchanges of ideas, information, or feelings between two or more people.