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Jack Reports Being in a Wonderful Mood

question 122

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Jack reports being in a wonderful mood. He has been very active at work lately, even working far into the night, as he seems to need only a few hours of sleep at night. He is very talkative and quickly moves from one topic to another, describing a scheme he has for making a fortune in the stock market. Which of the following would you say Jack is experiencing?


Definitions:

Availability Heuristic

A cognitive bias where people make judgments about the likelihood of an event based on how easily examples come to mind.

Endowment Effect

A cognitive bias where individuals value an owned object higher than a similar object they do not own, often affecting decision-making and market outcomes.

Framing Effects

Framing effects are cognitive biases where an individual's choice is influenced by the way information is presented, rather than just the information itself.

System 1

An automatic, fast, and often unconscious way of thinking, as described in dual-process theories of cognition.

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