Shreyas Fresh Produce is a chain of retail grocers. The stores have been very profitable on the East Coast. However, when two stores were opened on the West Coast, both lost money and had to be closed. Shreya, the owner, has now concluded that no store should ever be opened on the West Coast as it would not be profitable. This behavior best illustrates which one of the following characteristics?

Multiple Choice

Confirmation bias

Endowment effect

Money illusion

Affect heuristic

Representativeness heuristic