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Home Q & A Board Science-Related Homework Help Psychology
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diamonddiva007 diamonddiva007
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6 years ago
Lowenstein & Issacharoff (1994) gave subjects mugs and found that
 
  a. those that thought they earned the mug placed a higher selling price on it.
  b. those that thought they earned the mug refused to sell it.
  c. those that were told they were random recipients of the mug placed a higher selling price on it.
  d. those that were told they were random recipients of the mug refused it.

Question 2

Utility is the
 
  a. subjective value of an outcome. c. estimated probability of an outcome.
  b. objective value of an outcome. d. estimated frequency of an outcome.

Question 3

In order to calculate expected value, it is necessary to know
 
  a. the probability of events. c. the utility of events.
  b. the subjective probability of events. d. None of these

Question 4

A normative procedure for combining probabilities and values is called
 
  a. expected utility. c. Bayes' theorem.
  b. expected value. d. subjective expected utility.
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yushiyushi
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6 years ago
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#2
6 years ago
All correct!
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