dentify each statement as being associated with neoclassical economics or behavioral econo
dentify each statement as being associated with neoclassical economics or behavioral economics.
a. People are eager and accurate calculators.
b. People are often selfless and generous.
c. People have no trouble resisting temptation.
d. People place insufficient weight on future events and outcomes.
e. People only treat others well if doing so will get them something they want.
3. Label each of the following behaviors with the correct bias or heuristic.
a. Your uncle says that he knew all along that the stock market was going to crash in 2008.
b. When Fred does well at work, he credits his intelligence. When anything goes wrong, he blames his secretary.
c. Ellen thinks that being struck dead by lightning is much more likely than dying from an accidental fall at home.
d. The sales of a TV that is priced at $999 rise after another very similar TV prices at $1,300 is placed next to it at the store.
e. The sales of a brand of toothpaste rise after new TV commercials announce that the brand “is preferred by 4 out of 5 dentists.”