Answered
Steve purchased a stock last year for $34 a share. The stock increased in value to $36 a share before declining to its current value of $30. Steve has decided to sell the stock, but only if he can receive $34 a share or better. Steve is suffering most from which one of the following behavioral conditions?
A) Representativeness heuristic.
B) House money.
C) False fallacy.
D) Randomness.
E) Arbitrage reaction.
On May 11, 2024