13. Many individuals have an irrational fear of comm explained by: have an irrational fear of commercial flights, this fear can be best a. Social Conformity b. Loss Aversion c. Availability Heuristic d. Likelihood of a given flight crashing e. Sunk Cost Fallacy 14. Which of the following help explain the logic behind the decision to purchase lottery tickets? a. Overconfidence b. Delayed Gratification C. Anchoring d. Likelihood of massive payout e. None of the above 15. Under rule of communism, a central planning committee coordinates production and distribution, would marketing be necessary under this economic system? a. Yes b. No 16. What are likely factors that motivate individuals to pay a 10 factor premium for Air Jordans over Walmart hightops? (select all that apply) a. Purchasing them affords you the opportunity to tryout for your favorite Pro Team b. Status Signaling c. Desire to associate or dissociate with members of their own or other groups d. Materials used are noticeably different e. Makes you jump higher 17. Hindsight Fallacy helps explains overconfidence in one's ability to predict the future a. True b. False estimate 18. According to the availability heuristic, you would be more likely to the dangers of being robbed after being mugged. a. Over b. Under C. Neither