This topic contains a solution. Click here to go to the answer

Author Question: Which of the following describes the pseudocertainty effect? a. People are more willing to pay to ... (Read 74 times)

casperchen82

  • Hero Member
  • *****
  • Posts: 540
Which of the following describes the pseudocertainty effect?
 a. People are more willing to pay to reduce their risk from 10 down to zero than they are to reduce their risk from 50 down to 40.
  b. People are more willing to pay for a warranty plan that completely covers 30 of the possible problems rather than a plan that covers all problems with 30 probability.
  c. Rather than being offered a complete reduction of risk on certain problems and no reduction on others, you are offered a reduced risk on a variety of problems.
  d. All of the above.

Question 2

Which of the following describes the certainty effect?
 a. People are more willing to pay to reduce their risk from 10 down to zero than they are to reduce their risk from 50 down to 40.
  b. People are more willing to pay for a warranty plan that completely covers 30 of the possible problems rather than a plan that covers all problems with 30 probability.
  c. People are more willing to take a vaccine that has 100 protection for one strain of a disease and 0 protection for another strain of the disease, than a vaccine that offers 50 protection for both strains of the disease.
  d. All of the above.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

leahm14

  • Sr. Member
  • ****
  • Posts: 322
Answer to Question 1

B

Answer to Question 2

A



casperchen82

  • Hero Member
  • *****
  • Posts: 540
Both answers were spot on, thank you once again




 

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

For a complete list of videos, visit our video library