An EBay Seller Noticed an Interesting Thing While Listing Her

question 71

Multiple Choice

An eBay seller noticed an interesting thing while listing her products on eBay. If she listed her items with a high starting bid, she would not get any bids. However, if she started her items out at a lower starting bid, she would often sell them for more money than the high starting bid she had assigned other items. This MOST LIKELY reason for this is ________ .

• A) an escalation of commitment by the buyer
• B) buyer's remorse
• C) use of the availability heuristic
• D) use of the representative heuristic

---

Definitions:

Truthfulness

The quality of being honest or true; not lying, cheating, or stealing.

Inferiority

A feeling of being lower in status or quality compared to others, which can impact an individual's self-esteem and social interactions.

Thin Slices

Rapid assessments or judgments made based on a very brief exposure to a slice of behavioral or situational information.

Stereotypes

Oversimplified generalized images or ideas held about a group of people, leading to categorization based on those perceptions rather than individual characteristics.