Although Micah Made a Good Grade on Her Psychology Test

question 249

Essay

Although Micah made a good grade on her psychology test, received a pay raise at her part-time job, and had her car repaired for very little money, she dwells on the rebuff of a friend. According to Aaron Beck, Micah is illustrating the cognitive distortion known as __________.

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Definitions:

Second-Price Auction

An auction format in which the highest bidder wins but pays the second-highest bid, encouraging true value bidding.

Selling Price

The amount of money for which a product or service is sold to the customer.

True Value

The actual, intrinsic value of an asset or entity, not influenced by external factors like market fluctuations or subjective perceptions.

Bid-Rigging

An illegal agreement among competitors to raise, lower, or maintain prices at agreed-upon levels, often in auctions.