Jaelyn sees a sweater that she likes in a store. The price is $22. Jaelyn wouldn't usually
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Jaelyn sees a sweater that she likes in a store. The price is $22. Jaelyn wouldn't usually purchase the sweater at this price, but then she notices a sign that says the sweater is marked down from $44 and decides to buy the sweater. Is Jaelyn's decision an example of a commitment device, the endowment effect, a nudge, or anchoring bias? Explain.
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Anchoring involves estimating unknown quant...View the full answer
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