Your Friend Wants to Make a Bet with You, and He

question 88

Multiple Choice

Your friend wants to make a bet with you, and he gives you two options.If you choose Option 1, you will have an 80 percent chance of winning $100, but a 20 percent chance of losing $100.If you choose Option 2, you are guaranteed to win $5.If you are like most people when it comes to making decisions, you would probably choose because of .

• A)Option 1; the availability heuristic
• B)Option 1; confirmation bias
• C)Option 2: loss aversion
• D)Option 2: anchoring

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Definitions:

Reinforcement

In psychology, a process in which a behavior is strengthened or increased by a consequence that follows it.

Imitation

The action of using someone or something as a model and attempting to replicate their behavior or characteristics.

Modeling

The process of learning behavior by observing and imitating others.

Indirect Reinforcement

Reinforcement that occurs through the observation of the consequences of actions taken by others, rather than through direct personal experience.