When People React to (Or Perceive)identical Situations Differently in Different

question 208

Multiple Choice

When people react to (or perceive) identical situations differently in different contexts, behavioral economists refer to that as the

• A)planning fallacy.
• B)framing effect.
• C)confirmation bias.
• D)availability heuristic.

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Definitions:

Opportunities

Situations or conditions that present chances for progress, advancement, or the achievement of something desirable.

Skilled Professional

A person who has acquired a high level of expertise and competence in a particular job or field through training and experience.

Practice Sessions

Scheduled periods of time dedicated to rehearsing or exercising skills in order to improve or maintain proficiency in a specific area.

Flow

A mental state of being fully immersed and engaged in an activity, where time seems to pass unnoticed and the individual experiences great focus and enjoyment.