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Mahak Gupta
on Dec 27, 2024

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A friend is running a half-marathon to raise money for the Special Olympics and sends you a link to donate online.You see that Dan, a common friend who is tight with money, donated $15.You think of yourself as a generous person and donate $40.You used the __________ heuristic.

A) Availability
B) Representativeness
C) Anchoring and Adjustment
D) All of the above

Anchoring and Adjustment

A cognitive bias where individuals rely too heavily on an initial piece of information (the "anchor") when making decisions, with adjustments made too conservatively.

Representativeness

A cognitive heuristic where an individual judges the probability or frequency of an event by how much the event resembles the typical case.

Availability

The state of being able to be used or obtained; accessibility.

  • Grasp the different types of cognitive biases and heuristics.
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money freak97Dec 30, 2024
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