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Behavioural Economics [4 marks] Please think of an advertisement that you recently saw (e.g., on TV, in press or online) or take a couple of

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Behavioural Economics

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[4 marks] Please think of an advertisement that you recently saw (e.g., on TV, in press or online) or take a couple of minutes to find such an advertisement now. Describe the advertisement and explain which specific cognitive bias or heuristic is the advertisement designed to exploit in order to motivate people to purchase the advertised commodity? Name and define the bias/heuristic. Please answer in at most three sentences

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