Against his financial advisor’s advice, Frank has decided to invest his money in some risky stocks because he once made quite a
bit of money in the stock market. His decision illustrates __________. A.
the representativeness heuristic
B.
overconfidence
C.
the availability heuristic
D.
confirmation bias
I believe the answer is: representativeness heuristic
representativeness heuristic refers to the act of making judgement about a certain probability under uncertain situation. Representativeness heuristic often being done when investors want to accumulate wealth in the fastest way possible, even though the risk of losing all their wealth become larger.
Against his financial advisor’s advice, Frank has decided to invest his money in some risky stocks because he once made quite a bit of money in the stock market. His decision illustrates
Before the Great Emancipation of 1861, 10.5 million serfs were privately owned, 9.5 million were owned by the State, and about 900,000 worked for the Tsar himself.
I don’t know if this helps but I found a Wikipedia page with lots of useful information. Sorry I couldn’t give a straight up answer but I haven’t gone over this in class.
