The Eight-Second Rule Refers to the View That

question 236

Multiple Choice

The eight-second rule refers to the view that

• A)if a website doesn't attract a consumer's attention in the first eight seconds, the consumer will move on to a different site.
• B)customers will abandon their efforts to enter and navigate a website if download time exceeds eight seconds.
• C)any online purchase should take no more than eight seconds to complete.
• D)prospective customers will not wait longer than eight seconds for a response in a chat room.
• E)50 percent of online consumers will spend less than eight seconds "surfing" a website.

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Definitions:

Stock Shares

Units of ownership interest in a corporation or financial asset, representing a portion of the company's equity.

Endowment Effect

Refers to the phenomenon where people ascribe more value to things merely because they own them.

Ultimatum Game

A game in experimental economics where two players decide on how to divide a sum of money; one proposes the split, and the other can accept or reject it.

Behavioral Economists

Researchers who study the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.