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Author Question: Explain how the pseudocertainty effect can adversely affect ... (Read 48 times)

bb

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on: Jul 24, 2018
Explain how the pseudocertainty effect can adversely affect decision-making.

Question 2

People generally perceive a scenario offering a complete elimination of risk for one subset of problems (and no reduction in risk for the others) much more favorably than a scenario offering the same (but not complete) reduction in risk for all problems. This is an example of what psychological effect?


bigsis44

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Reply #1 on: Jul 24, 2018
Answer to Question 1

EVEN THOUGH THE EXPECTED VALUES ARE THE SAME, THE PERCEIVED BENEFITS ARE DIFFERENT DEPENDING ON HOW THE OFFER IS MADE.

Answer to Question 2

THE PSEUDOCERTAINTY EFFECT


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