Failure to consider opportunity cost and sunk-cost fallacy

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Reference no: EM131425997

For each of the following topics in choice under certainty, give an example of how it has applied to you or someone close to you, and how to potentially make a better decision. (a) Failure to consider opportunity cost (b) Sunk-cost fallacy (c) Compromise effect or Extremeness aversion (d) Loss aversion (e) Anchoring and adjustment.

Reference no: EM131425997

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