For each of the following cases, identify what behavioral bias each case reveals(Availability, Representativeness, Overconfidence, Anchoring. Ambiguity aversion, and Framing). Explain briefly. 1. To nudge employees to save more for retirement, a company implemented an automatic 401 (k) enrollment plan. While still allowing employees to opt out, the plan changes the scenario from "do you want to participate?" to "you will participate unless you choose not to". As a result, savings rates of new hires increased from 37% before automatic enroliment to 86% after automatic enrollment was introduced. 2. A store increased the price of its best seller of Christmas trees from $100 to $150 six weeks before Christmas. Two weeks before Christmas, the store put a 20\% discount on the tree, resulting in a new sale price of $120. Customers deemed the discount a great deal, In just two days, the best seller was sold out. 3. Angus has always held shares of a big oil company's stock and has never thought about branching out to other companies or industries in the energy sector. His investment has done well in the past, proving to him that he is making the right decision. Angus has been reading about fundamental changes predicted for the energy sector, but he decides to stick with what he knows