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The tendency to continue an endeavor once an investment in money, effort or time has been made
The concept that explains why people think that losses loom larger than gains
What is prospect theory?
What is it called when you continued to after the sunk cost?
What is the term for when people value an object more once it becomes theirs
What term does the eBay bidding wars and feeling ownership over the items exemplify? Why?
When you feel ownership over an item that you didn't even technically own?
What affects the magnitude of Psuedo Endowment ?
What represents how much we can charge for an item before people will stop buying it?
What plays a role in determining the economic demand curve?
Why does Scarcity create demand?
What is Transaction Utility
What is the Buyers VS Sellers question
What were the results of the psychological Consequences of money study?
What is the Emotional Forecasting Error?
What is the omission bias?
Why do people feel the omission bias?
What is preference reversal?
What explains preference reversal?
Framing Effects are an example of what? and can cause what?
Why do people get Monty's deal wrong?
What key terms influence the success of persuasion?
What is important of Senders Traits in Persuasion?
What makes a sender credible?
What determines how much we like someone?
What types of message content influence people?
To use fear effectively in a message, people must be ...what?
What happens when people are not given the necessary components of a fear message?
What receivers traits effect the message's persuasiveness
Which is more persuasive? A one or 2 sided argument?
When is a one sided argument effective?
When is a 2 sided argument more effective?
What is the dis confirmation Bias
What is Central Route Processing?
What is it good for?
What are central route processing people persuade by more so?
What is Peripheral Route Processing ?
What is it good for?
What are people using peripheral route processing more persuaded by?
How can Central Route Processing override Peripheral Route?
What is the elaboration likelihood model?
What are the two types of Reasoning?
When you are moving beyond the given info. what type of reasoning are you using?
When you are trying to draw conclusions, what type of reasoning do you use?
What is is Deductive Reasoning?
What is Inductive Reasoning?
Why don't people get the Wason Card Selection Task?
What is the falsification principle?
What is a syllogism
What are categorical syllogisms?
What are conditional syllogisms
What type of syllogism is this?
All birds are animals. All animals eat food.
Therefore, All birds eat food.
What type of syllogism is this?
If I study, then I'll get a good grade.
I studied, therefore I got a good grade
What is the difference between truth and validity?
How do we reach conclusions in inductive reasoning?
What is Attitude Polarization?
What does Attitude Polarization lead to?
What does Motivated Reasoning describe?
When is it hard not to use motivated reasoning?
What is the difference between Risk & Uncertainty
What is the Expected Value Theory & how do you calculate it
What is the Expected Utility Theory
Are people usually risk takers or risk averse
Risk Neutral means that...
Are we risk neutral?
What is Diminishing Marginal Utility
What is Certainty Equivalent
IF you are risk neutral, your CE is what to your EV?
If you risk Neutral, your CE is what to your EV?
What is Risk Premium?
If someone is risk averse, what is their risk premium?
When are people especially risk averse?
What affects risk seeking behavior? (not framing)
People are risk averse when questions are framed... how?
People are risk seeking when questions are framed...how?
