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A friend of yours is raving about this new "neurovestibular system" that he spent a small fortune on, which he is convinced is helping him to get fit. He says: it's based on "real science" and helps you make more hormones that decrease your appetite; the worldrenowned doctor who invented it has tried it on himself and has had amazing results, not only losing body fat but building lean muscle mass; and that almost everyone who has bought one from his web site has lost weight too. He's been using it for three months and believes that it's working, although he acknowledges he hasn't lost much weight according to his scales. He reckons that's because he's built muscle and lost fat. But you're not so sure, because there doesn't appear to be any observable change, you look a little deeper. You go to the website and find that there is no clear scientific argument to support the claims, and in the fine print the doctor who invented it says his results were obtained "when combined with an active and healthy lifestyle" and "should not be viewed as typical", and that the results of others were "self-reported".
Question: What cognitive biases might explain why your friend, and perhaps all the other people who have used this device, might believe that it is working despite no objective evidence that it is? Cognitive biases may be broadly construed to include some fallacies, heuristics and other similar effects. Support your argument with reference to the academic literature. You may cite from the unit resources but the use of additional peer-refereed sources is desirable.
Suppose that in 20 years, Brazil no longer produces much coffee and imports most of its coffee instead. Why Brazil might change its trade pattern over time.
What 'story' does the graph below tell about the contributions of the developed and the developing world between 1990 and 2011 to global GDP growth? How does the GFC appear to have affected those relative contributions
The largo publishing house uses 400 printers and 200 printing presses to produce books. A printer's wage rate is $20, and the price of the printing press is $5,000.
1. How has Whole Foods been successful in the highly competitive supermarket industry? 2. How does the company adjust to changes in economic conditions? 3. How will changes in sociocultural forces provide opportunities for Whole Foods in the future?
Choose a market for a good in your area that seems to be a perfectly competitive market. Write four or five substantive paragraphs that describes the market and answers the following questions: Identify the buyers and sellers as well as the goods o..
Compare and contrast strategic controls and financial controls. Provide specific examples of how each may be used to best serve a corporation.
Elizabeth Corday, a quality control supervisor for Surgery Products, Inc., Compute the unit cost growth rate using the constant rate of change model with continuous compounding.
What were the long run costs for Blockbuster and the divisible inputs? Who were their competitors?
Provide five benefits to British living standards during early industrialization. Provide five negative consequences to British living standards during early industrialization. Provide five explanations for why Britain industrialized first.
what stabilisation policies are available to each country? Could the central bank select a monetary policy which satisfies both countries?
In general, would you (or what is the consensus of the group) favor a more Keynesian or Classical approach in response to shocks to the economy? Explain.
Who were Ben Bernanke, Henry Paulson, and Timothy Geithner, and what role did each play in the events? What is Moral Hazard? How did this play
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