When purchasing a car, people end up paying a bit more attention than intended to choices such as color and engine size, and a bit less attention than intended on information such as the chances of fatalities should there be an accident with the car. This pattern can be taken as evidence for ____.
A)the status quo bias
B)the certainty effect
C)risk aversion
D)the Zeigarnik effect

Question

Quizplus · Accepted Answer

The certainty effect describes a situation where people give disproportionate weight to outcomes that are certain, compared to outcomes that are merely probable. In the context of car purchasing, buyers may focus more on certain attributes like color and engine size, which they can easily assess and are sure about, rather than on less certain and more probabilistic information like the chances of fatalities in an accident. This behavior reflects the certainty effect, where the certain outcomes (known attributes of the car) are given more attention than uncertain outcomes (potential accident outcomes).

When Purchasing a Car, People End Up Paying a Bit