Suppose Ryan and Rita Were Randomly Shown the Numbers 25

question 235

Multiple Choice

Suppose Ryan and Rita were randomly shown the numbers 25 and 67, respectively, and then asked to estimate the price of an item about which they have relatively limited knowledge. According to findings from behavioral economics, we would expect

• A)Ryan to estimate a price higher than what Rita would estimate.
• B)Ryan to estimate a price lower than what Rita would estimate.
• C)Ryan to estimate a price about the same as what Rita would estimate.
• D)the randomly shown numbers to have no influence on their estimates.

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Definitions:

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A general term for pain or discomfort felt in the belly area, which can have many causes ranging from indigestion to more serious medical conditions.

Bismuth Subsalicylate

An over-the-counter medication used to treat nausea, heartburn, indigestion, upset stomach, and diarrhea.

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A type of bacteria that infects the stomach lining and can lead to ulcers, gastritis, and sometimes stomach cancer.