Explain the Behavior Bias Being Made in the Following Scenarios

question 74

Essay

Explain the behavior bias being made in the following scenarios.
a. A baseball team offers a lottery for the random chance to buy season tickets at a deep discount. The fans who paid full price for season tickets are more likely to attend games than the fans who bought discounted season tickets.
b. A person prefers $50 today to $100 one year from now but prefers $100 in six years to $50 in five years.
c. A person is more likely to drive across town to save $5 on the purchase of a $10 calculator than drive across town to save $5 on the purchase of a $100 coat.

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Definitions:

Definition By Negation

Definition by negation explains what something is by stating what it is not, relying on contrasts to convey the meaning of a term.

Charismatic Person

An individual who possesses a compelling charm or attractiveness that inspires devotion or enthusiasm in others.

Sentence 1

The first sentence in a paragraph or document, often introductory or leading the narrative.

Definition By Negation

Explaining the meaning of a term by stating what it is not rather than what it is.