« previous next »

Author Question: Explain how the pseudocertainty effect can adversely affect ... (Read 16 times)

bb

  • Hero Member
  • *****
  • Posts: 544
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

  • Sr. Member
  • ****
  • Posts: 317
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

A person with a defective "P" gene might only have it effect the EYES A person with a defective "P" gene might only have it effect the EYES
Effect of Landfall Effect of Landfall
Friction significantly influences airflow near Earth’s surface, but its effect is negligible at ... Friction significantly influences airflow near Earth’s surface, but its effect is negligible at ...
Doppler effect Doppler effect
Oil supply and prices affect the economies of nations Oil supply and prices affect the economies of nations
Effect of a Tax Effect of a Tax
Video: Female Reproductive System - Hormonal regulation (GnRH) الجهاز التناسلي للأنثى - التنظيم الهرموني

For a complete list of videos, visit our video library