Uncertainty and Irrationality in Decision Making
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Questions and Answers

What effect is described where people feel emotionally attached to a product because they built it themselves?

  • The representativeness heuristic
  • The availability heuristic
  • The I designed it myself effect (correct)
  • The anchor and adjustment heuristic

    • In the context of customization options, what is the difference in customization preferences between consumers in the West and those in Eastern countries?

  • Consumers in the West prefer a more holistic view, while Eastern consumers prefer detailed customization. (correct)
  • Consumers in the West prefer by-alternative customization, while Eastern consumers prefer by-attribute customization.
  • Consumers in the West prefer context-based customization, while Eastern consumers prefer alternative-based customization.
  • Consumers in the West prefer to choose between models, while Eastern consumers prefer to choose colors and interiors.

    • What was the outcome when students who had developed their own pens were given an assignment compared to those who used a normal pen?

  • They spent less time on the assignment and used less words. (correct)
  • They performed equally well on the assignment as those with a normal pen.
  • They spent less time but used more words on the assignment.
  • They spent more time on the assignment and used more words.

    • Which heuristic refers to people's tendency to rely on immediate examples that come to mind when making decisions?

    <p>Availability heuristic</p> Signup and view all the answers

    What kind of customization option do brands often use where customers can choose specific features like colors and interiors?

    <p>Selective customization</p> Signup and view all the answers

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