Behavioral Finances

1. When a website says "Only one left" which loss aversion strategy is this?
4. The tendency to put more value on things you already own
8. the use of social media platforms and websites to promote a prouct or service
9. when a person believes they are better at something than they actually are
11. Unlike traditional economics behavioral economics believes that people don't always behave in a _____________ way when making economic decisions
14. the subfield of economics that applies psychological insights into human behavior to explain economic decision making
16. The tendency to conform to the behaviors and beliefs of the people around you

2. The tendency to search for information that supports our preconceptions and to ignore or distort contradictory evidence
3. The tendency to make decisions about a current situation based on what resources you have already invested in the situation
5. The tendency to feel anxiety/fear that an exciting or interesting event may may currently be happening elsewhere, often aroused by posts seen on a social media website
6. the tendency people have to be more confident in their own abilities
7. Costs that have already been incurred and cannot be recovered
10. the tendency to return to a baseline level of happiness regardless of whether you go through a positive or negative experience or event
12. The tendency to regard losses as considerably more important than gains of comparable magnitude
13. A subconscious error in thinking that leads to irrational decision making
15. once the ______________ of a purchase wears off, we look to buy the next thing