Identify a True Statement About Loss Aversion

question 65

Multiple Choice

Identify a true statement about loss aversion.

• A)It helps to explain the endowment effect and the sunk cost fallacy among people.
• B)It emphasizes that people make more losses than gains in their lives.
• C)It is the tendency to report falsely,after the fact,that one accurately predicted an outcome.
• D)It is the tendency to report falsely about a loss in order to gain sympathy and escape punishment.

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Definitions:

Control Fate

The concept of having influence or control over the outcomes of one's actions or the direction of events in one's life or environment.

Own Fate

involves the belief or sense that an individual has control over their destiny and the outcomes of their actions.

Type B Orientation

Type B Orientation describes individuals characterized by less competitive, more relaxed, and less stress-driven behavior patterns in comparison to Type A individuals.

Impatience

A disposition toward being quickly irritated or provoked by delays or obstacles.