Consumers choices are prey to subtle discrepancies that

Reference no: EM13462026

Consumers' choices are prey to subtle discrepancies that arise in cognitive accounting. Learning how and when you are prey to these discrepancies is an important step in improving your decision-making.

People value gains and losses differently under different scenarios. For example, contestants in a game show might choose a guaranteed $10 prize over a 50 percent chance of winning $20 despite the fact that the expected values are the same.

Respond to the following:

• As a marketer, how might you frame certain decisions to benefit from the disparities that arise in one's cognitive accounting?

• As a consumer, how would you avoid the pitfalls posed by the inequalities of one's cognitive accounting?

Write your initial response in 300-500 words. Apply APA standards to citations of 2 different sources.

Reference no: EM13462026

Questions Cloud

Select one phase of the database life cycle and describe : per the text the database life cycle includes the database initial study database design implementation and loading

Which tool is most important to ensure academic success : which tool is most important to ensure academic success note taking memory techniques listening skills or reading

Discuss goal setting methods or strategies that you have : discuss goal setting methods or strategies that you have used in the past. how do they compare to the smart method?

In the it field group projects often have strict deadlines : groups will be assigned no later than the end of unit 1. if you wish to be involved in a project-managed group please

Consumers choices are prey to subtle discrepancies that : consumers choices are prey to subtle discrepancies that arise in cognitive accounting. learning how and when you are

Use colorful words and expressions to reveal feelings and : will you please retell the story of alfred the great for me? like in a full 5 paragraphs? use these as

To design a database a database planner should spend a : to design a database a database planner should spend a considerable amount of time thinking about what kind of

You are a private computer consultant and a new client has : you are a private computer consultant and a new client has approached you about upgrading his small business network.

Integrate the research and analysis from the previous : one of the most common business tools during organizational assessment is the strengths weaknesses opportunities and

User Account

All Pages