Geneva is a researcher at a biotech firm, and faces decision paralysis every time a big question is posed to her. Whenever her boss asks her what project she wants to work on, she always says she is indifferent, so eventually her boss stops asking for her input and just assigns her however he wants.
Tiffany lives in Alameda, California. She recently received two job offers, one in Oakland and one in San Francisco. The San Francisco job pays $1,000 more per year, so Tiffany accents the job However the travel time which is an hour
Geneva's mistake is an example of
misperceiving opprtunity costs.
loss aversion.
overconfidence.
✔ misperceiving opprtunity costs.
mental accounting.
status quo bias.
