Specialty shops can charge and get customers to pay higher prices for identical goods than they would pay in "big box" stores. Assuming that these differences are driven by store appearance rather than differences in services provided, which of the following best explains this phenomenon? A) availability heuristics

B) confirmation biases

C) framing effects

D) self-serving biases 15

Question

Business

Kathy

13 October, 18:05

Specialty shops can charge and get customers to pay higher prices for identical goods than they would pay in "big box" stores. Assuming that these differences are driven by store appearance rather than differences in services provided, which of the following best explains this phenomenon? A) availability heuristics

B) confirmation biases

C) framing effects

D) self-serving biases 15

+4

Answers (1)

Know the Answer?

Maverick Rasmussen · Answer 1

The answer is the ''Framing effect''.

Explanation:

The framing effect is when people decide on options based on whether the options are presented with positive or negative; The framing effect is very important for investors to avoid taking risks.