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Assume that John has the same political affiliation as the President of his country. For his country: the Unemployment rate is going up (indicating less
Assume that John has the same political affiliation as the President of his country. For his country: the Unemployment rate is going up (indicating less people have jobs), but non-farm payrolls are going up (indicating that more people have jobs). John tells all his friends about the non-farm payroll numbers, and ignores the increase in the unemployment rate. This is an example of...
Loss Aversion.
Confirmation Bias.
Increasing relative risk aversion.
None of the above
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