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Monica is a wealthy, experienced investor. Larry is experienced with investing, but he is
significantly less wealthy than Cecilia. Both are considering the same investment, but they value
it differently because they perceive the potential utility differently if the investment does well.
This is an example of: Gambler's fallacy Mental accounting Confirmation bias Prospect theory
Dunning Kruger effect

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Monica is a wealthy, experienced investor. Larry is experienced with .pdf

  • 1. Monica is a wealthy, experienced investor. Larry is experienced with investing, but he is significantly less wealthy than Cecilia. Both are considering the same investment, but they value it differently because they perceive the potential utility differently if the investment does well. This is an example of: Gambler's fallacy Mental accounting Confirmation bias Prospect theory Dunning Kruger effect