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Question
For the past five years, Benjamin has been purchasing Citizens of Humanity brand jeans each time he needs a new pair of jeans, even though a different brand, such as RocaWear or Ecko, would in all likelihood bring him more utility per dollar spent. A behavioral economist would suspect Benjamin is suffering from the ________ bias.
a. egocentric
b. choice-supportive
c. time-saving
d. status quo
e. outcome
Answer
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Related questions
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What is the long-run consequence of a price ceiling law?
a. A surplus will continue to exist and will grow larger over time.
b. A surplus will continue to exist and will grow smaller over time.
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Q:
Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
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Q:
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Q:
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