PPT-Sunk Cost Fallacy in

Driving the Worlds Costliest Cars TeckHua Ho University of California Berkeley Joint with IPL Png and Sadat Reza National University of Singapore May 2013 1 Key Research question . (Really). Remember that a fallacy is just an invalid argument. An invalid argument is one where even if the premises are true, the conclusion can still be false. So there are lots of fallacies.. However, there are certain tricky patterns that often fool people. These patterns come to have names.. Remember that a fallacy is just an invalid argument. An invalid argument is one where even if the premises are true, the conclusion can still be false. So there are lots of fallacies.. However, there are certain tricky patterns that often fool people. These patterns come to have names.. Reflect. Remember yesterday we talked about the utility of our decisions.. All choices are made, either consciously or unconsciously, based on how happy they will make us.. Limitations. Life is full of limitations.. Forecasting Biases .  misinformation to be used in making Decisions. Decision Bias  . Information can still lead to biased decisions. Confirmation bias. Decision tendencies to go with …... Status quo. . 4. 1. UNIT. Why do smart people do dumb things? . To master the reading skill. To . understand . the text. To practice the phrases and patterns. To . learn about writing a survey report. Objectives. 2313:Spring, 2013. Welcome. !. What is economics?. Economics is the study. of how individuals and. societies allocate. scarce. resources among. (competing) . alternative. uses.. Scarcity. . Available resources are insufficient to satisfy wants.. S. . Masiclat. . ICC 606 | Applied Research in Content Management. Fall . 2012. Basic Definition: Cost Structure. The expenses that a firm must take into account when manufacturing a product or providing a . Maddie Mount. Definition . This fallacy comes from assuming that because two things are alike in one way, they are alike in another way . Equation. X has property Y. Z is like X. Z therefore has property Y. #7. Battle of the Atlantic. U.S. History. Unit . 5. Essential Questions:. What were the key elements of the Battle of the Atlantic?. What things gave the Allies the advantage to win control over the Atlantic Ocean?. Unit 1 Section A. FOREIGN LANGUAGE . TEACHING AND RESEARCH PRESS . AIR . FORCE ENGINEERING UNIVERTISY. Doing the right thing is not the problem. Knowing what the right thing is, that’s the. challenge.. Definition. relating to or being the fallacy of arguing from temporal sequence to a causal relation. Modern Example. . I ate a loaf of bread, and got a cold a few days later. Therefore, I must have gotten sick from the bread I ate. YR 5. PE . 3 . Economic Analysis alternative 1 – Stake Body Truck Purchase. $35,325. $11,000. $11,000. YR 0 = ($35,000 per truck $325 per canvas cover) * 1 truck = $35,325. Recurring end of each year = . My part in its downfall. ME!. Who am I?. or. as I sometimes ask, who WAS I?. My Ship. The Frigate HMS Alacrity F174. Sleek grey messenger of death. Armament. Her weaponry. For those who like that sort of thing. Money Cost, Real Cost, Explicit Cost, Implicit Cost, Sunk Cost, Opportunity Cost, Private Cost, Social Cost, Cost Functions and its Properties, Shift in Cost Curves; Long-Run versus Short-Run Cost Curves; the relationship between short run and long...