BUAD 304 - Assignment 1

BUAD 304 - Assignment 1 - BUAD 304 Pierre Towns Assignment...

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BUAD 304 Pierre Towns Assignment 1 1. The stereotype of used-car dealers is probably that they sell old dilapidated vehicles that no longer function properly for high prices by hiding a vehicle’s flaws. The stereotype of the untrustworthy used-car salesmen stems from the representative bias which assesses the chance of an event happening again and the confirmation bias in which a person looks for information to affirm their beliefs and rejects information that goes against those beliefs. An example of the representative bias in the case of the used-car salesmen is you know a person who was ripped off by a used-car salesmen, so therefore you assume that all used-car salesmen are untrustworthy. An example of the use of the confirmation bias to antagonize used-car dealers would be a person only reads into instances in which people have been cheated when buying used-cars, and not reading success stories of great used-car purchases. Together the
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