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A Cognitive Bias - 10 Mintues to Save $10

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dc.contributor.author Gu, Qian
dc.date.accessioned 2019-04-13T18:18:19Z
dc.date.available 2019-04-13T18:18:19Z
dc.date.issued 2019-03-29
dc.identifier.uri https://scholarworks.bridgeport.edu/xmlui/handle/123456789/4074
dc.description.abstract A cognitive bias is a systematic pattern of deviation from norm or rationality in judgment. Cognitive biases may sometimes lead to perceptual distortion, inaccurate judgment, illogical interpretation, or what is broadly called irrationality. (Wikipedia, 2018) This research was designed a experiment to test the irrational illusion. It was a type of cognitive bias and it lead a systematic error of inductive reasoning. People displayed this bias when they believed they were smart, and they made the right decision by doing mathematic calculation to save a big portion of the money vs their spending amount. They thought they could save 33.33% spending if they went for $30 gift, but they only saved 4.34% spending if they went for $230 gift. Therefore, they believed that they had made the right decision to go for $30 gift because the trip made them feel that they saved a lot of money. en_US
dc.language.iso en_US en_US
dc.subject Cognitive bias en_US
dc.subject Irrational illusion en_US
dc.title A Cognitive Bias - 10 Mintues to Save $10 en_US
dc.type Other en_US
dc.institute.department School of Business en_US
dc.institute.name University of Bridgeport en_US
dc.event.location Bridgeport, CT en_US
dc.event.name Faculty Research Day en_US


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