Psychology MCQ
Social Psychology Chapter 4
People tend to say that they would prefer to have $1000 today rather than $1200 two weeks from now—even though, logically, they would be better off with the $1200 in two weeks. The phenomena underlying this tendency is known as ____.
People tend to say that they would prefer to have $1000 today rather than $1200 two weeks from now—even though, logically, they would be better off with the $1200 in two weeks. The phenomena underlying this tendency is known as ____.
People tend to say that they would prefer to have $1000 today rather than $1200 two weeks from now—even though, logically, they would be better off with the $1200 in two weeks. The phenomena underlying this tendency is known as ____.
a. risk aversion
b. the certainty effect
c. temporal discounting
d. the status quo bias
Answer: C
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