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Use the Following Information to Answer the Next Few Questions

question 24

Multiple Choice

Use the following information to answer the next few questions.
It is wintertime and your pet lizard has somehow escaped into the backyard.After much searching,you find him basking on a rock in the sun trying to keep warm.
-To conserve heat,it is likely that


Definitions:

Recognition Heuristic

A decision-making process where a more recognized option is chosen over the less familiar one, based on the assumption that recognition is correlated with value.

Behavioral Economics

A method of economic analysis that applies psychological insights into human behaviour to explain economic decision-making.

Self-Serving Bias

Self-serving bias is the tendency to attribute positive events to one's own character but attribute negative events to external factors, affecting judgment and decision-making.

Planning Fallacy

The optimistic cognitive bias that leads individuals or teams to underestimate the time, costs, and risks of future actions, while overestimating the benefits.

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