.Match one of the cognitive biases with an example using the appropriate number.
ID: 2744195 • Letter: #
Question
.Match one of the cognitive biases with an example using the appropriate number. 1. confirmation bias 5. availability heuristic 2. self-serving bias 6. planning fallacy 3. overconfidence bias 7. framing effects 4. hindsight bias a. You think that because you doubled your money buying shares of stock in one company that you can double your money buying shares of stock in another company. ______ b. You purchase a higher-priced item because its shiny packaging and box make it look very attractive.______ c. You watch a football game on Saturday, and then at the office on Monday you tell other workers that you knew in advance of the game that the team was going to lose. ______ d. You hear on the news about crime in your city, and it brings to mind past stories of crime in your city, so you tell others that you think that crime is on the rise. ______ e. A government project to build a new bridge over a river in your city takes three years to complete rather than the two years for which it was scheduled. ______ f. You think that the basketball team at your university is the best one in the country and so you read stories in the newspaper only about that team. ______ g. When you do well on a test in a course, you think that it is because you studied hard, but when you do poorly on a test, you think that it is the fault of the course instructor. ______
Explanation / Answer
a. You think that because you doubled your money buying shares of stock in one company that you can double your money buying shares of stock in another company. overconfidence bias
b. You purchase a higher-priced item because its shiny packaging and box make it look very attractive. Framing Effects
c. You watch a football game on Saturday, and then at the office on Monday you tell other workers that you knew in advance of the game that the team was going to lose. Hindsight Bias
d. You hear on the news about crime in your city, and it brings to mind past stories of crime in your city, so you tell others that you think that crime is on the rise. availability heuristic
e. A government project to build a new bridge over a river in your city takes three years to complete rather than the two years for which it was scheduled. Planning fallacy
f. You think that the basketball team at your university is the best one in the country and so you read stories in the newspaper only about that team. Confirmation Bias
g. When you do well on a test in a course, you think that it is because you studied hard, but when you do poorly on a test, you think that it is the fault of the course instructor. Self Serving Bias
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