U) Maslow's idea was that some needs are more important than others and so he arranged them in a with the most important needs at the . These needs included and , among others. According to Rokeach values are what we use to reach our values. What is a Likert Scale and give an example of where it is used. In modeling consumer decision making, economists like to think of consumers as rational optimizers who maximize their . Part of the consumers decision making process is to determine how much to spend on categories of products. This is called Loss aversion is a. searching for a misplaced cell phone. b. being more likely keep what you have than to switch. c. missing a friend who moved away. d. being a Purdue football fan. The tendency of people to overweight rare events is known as The which of the following phenomena do not arise in evaluating consumer decision making probability weighting choice bracketing reversal of fortune effect hypothetical bias excessive choice effect 9999's