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Andrew Cumbal
on Dec 28, 2024

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Michael has to choose an online course to improve his skills. After much deliberation, he chooses a course on marketing. After a few weeks, Michael feels that he does not enjoy the course and wishes he had picked another course. Although he still has the option to select another course, Michael decides to stick to the marketing course. This scenario is an example of ____.

A) temporal discounting
B) the status quo bias
C) error management theory
D) the certainty effect

Status Quo Bias

The preference for the current state of affairs, where changes are perceived as losses rather than gains, leading to resistance to change.

Temporal Discounting

The devaluation of future rewards or outcomes in favor of immediate benefits, reflecting an individual's preference for short-term gratification.

Certainty Effect

The tendency for people to give greater weight to outcomes that are certain, compared to outcomes that are only probable.

  • Acquire knowledge on the psychological theories pertinent to decision-making processes and the effects of cognitive biases.
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Cassady Aim2525Dec 28, 2024
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