Social Studies, 08.05.2021 03:10 nadine3782
You feel a small bit of joy when you breeze through green lights on your way to work, but you will get downright angry when the car in front of you sits at a green light and you miss the opportunity to make it through the intersection. Losing out on the chance to make the light is far more painful than the pleasure of hitting the green light from the beginning. Which concept about decision-making best applies to this situation?
1. Loss aversion theory
2. The anchoring & adjustment heuristic
3. Hindsight bias
4. The planning fallacy
5. The framing effect
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