PSYCHOLOGY OF EMOTIONS

Detailed explanation-1: -In relation to ground beef, consumers respond more positively to an ad describing it as “75 percent lean” than to one referring to its “25 percent fat” content. This is an example of: A) the framing effect.

Detailed explanation-2: -Overconfidence bias is a common inclination of people to overestimate their own abilities to successfully perform a particular task (Brenner et al., 1996).

Detailed explanation-3: -An acquisition is when one company purchases most or all of another company’s shares to gain control of that company. Purchasing more than 50% of a target firm’s stock and other assets allows the acquirer to make decisions about the newly acquired assets without the approval of the company’s other shareholders.

Detailed explanation-4: -Which example best describes the representativeness heuristic? a. “To decide if someone is a lawyer, I compare that person’s characteristics to the characteristics of the typical lawyer."

Detailed explanation-5: -Which of the following examples of the use of the representativeness Heuristic? judging that a young person is more likely to be the instigator of an argument than an older person, because you believe younger people are more likely to start fights.