George Was Examining a Sweater at a Department Store

question 20

Multiple Choice

George was examining a sweater at a department store.When he considered the color in terms of what his male friends might say, he decided he didn't like it.But then, his girlfriend walked up beside him and said he would look good in the sweater.Suddenly, the sweater was more appealing.George is experiencing:

• A)loss aversion
• B)risk invariance
• C)the endowment effect
• D)preference reversal
• E)the sunk cost effect

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Definitions:

Self-actualization

A process of realizing and fulfilling one's potential and abilities, considered the pinnacle of psychological development.

Classical Conditioning

A learning process that occurs through associations between an environmental stimulus and a naturally occurring stimulus, famously demonstrated by Pavlov's experiments with dogs.

Generous Behavior

Actions characterized by a willingness to give more of something, such as time, money, or resources, than is strictly necessary or expected.

Cognitive

Pertaining to the mental processes involved in acquiring knowledge and understanding, including thinking, knowing, remembering, and problem-solving.