Question

Ryan is looking to buy a used car. He seems to be most concerned with the color and style of the car, and uses those criteria as a basis for evaluating the value of the car, rather than considering how well the engine or the transmission is maintained. This is an example of:

A. confirmation bias.B. availability bias.C. anchoring bias.D. overconfidence bias.E. framing bias.

Answer 1

The given scenario for buying a car is an example of overconfidence bias

Step-by-step explanation:

Overconfidence bias is an effect of Emotional bias. It is the factor of choice of purchasing the product with the basis of attractiveness towards the particular matter of brain illusion. The consumer Mr. Ryan is more attached to the style and the color of the car. He had his strong and blind belief that the outside style of the car can alone depict the value of the car than other technical factors of usage of engine and transmission.

Mr. Ryan can also have the emotional sentiment of a particular type of color as well as the glittering appearance of the car. Such thought of overconfidence will distract him to think about the feasibility features of the car over a long period of time.