BE 07 PRICES.docx - Group English Name SID Opportunity Cost...

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Group #: ______ English Name: _______________ SID: _______________ Opportunity Cost Neglect Rational Choice Model (RCM) assumes: Frederick et al.’s alternative hypothesis: Study 1A Method: Results: Study 1B Method: Results: Study 1C Method: Results: BE 05 ANCHORING (Ariely, Ch 2. The Fallacy of Supply & Demand) Tversky & Kahneman (1974) 1. African Countries in the UN. What happened? 2. Gandhi’s Age at His Death. What happened? 1
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Group #: ______ English Name: _______________ SID: _______________ 3. Shopping Task I Write down the last 3 digits of your student ID number Would you pay that much in NTD for this item? (YES or NO) What is the MOST that you would pay for this item? Logitech Trackball Logitech Keyboard and Mouse Wine - Cotes-de- Rhone, 1998 Wine - Hermitage, 1996 Anchoring and Arbitrary Coherence 4. Shopping Task II. How do Ariely’s results at MIT show both anchoring and then arbitrary coherence? Would we see it if we checked the data for this class? 5. Annoying Sound Experiment. How does the importance of first impressions and arbitrary coherence?
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