After Reducing Postdecision Dissonance, People Are More Likely to Rate

question 53

Multiple Choice

After reducing postdecision dissonance, people are more likely to rate the chosen and unchosen alternatives as __________.

• A) being very similar, with about equal strengths and weaknesses
• B) having an equal number of strengths, but the chosen alternative as having fewer weaknesses
• C) being more dissimilar, such that the chosen alternative is much more desirable than the unchosen one
• D) being similar in terms of weaknesses, but the chosen alternative has more strengths

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Definitions:

Nash Equilibrium

A concept within game theory where each player's strategy is optimal when considering the decisions of other players, leading to a situation where no participant can gain by unilaterally changing their strategy.

Duopolists

Two firms or parties that dominate the market for a particular product or service.

Output Maximization

Output maximization refers to a strategy employed by firms to adjust their production in order to produce the maximum number of goods or services, given their resources.

Prisoners' Dilemma

A scenario in game theory in which two individuals acting in their own self-interest do not produce the optimal outcome, highlighting the conflict between individual benefit and collective benefit.