Jared, a High School Senior, Was Searching for Colleges and Found

question 29

Multiple Choice

Jared, a high school senior, was searching for colleges and found a website for a school in which all the students were well dressed in the photos. Jared said to himself, "That place looks too sophisticated for me. I want to go somewhere that is more casual," and he left the website. Jared is MOST likely:

• A) engaging in after-the-fact reasoning.
• B) reasoning by representativeness.
• C) using the availability heuristic.
• D) falling prey to hindsight bias.

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Definitions:

Dominant Strategy

In game theory, a strategy that is best no matter what the opposition does.

Players

In an economic context, players refer to individuals or entities actively participating in a market or economic model.

Strategies

Plans or methods developed to achieve a goal or solve a problem.

Nash Equilibrium

A concept within game theory where no participant can gain by unilaterally changing their strategy if the strategies of the others remain unchanged.