In a recent experiment, participants were to take 7,000 steps per day. Group A received a payment of $1.40 per day if they achieved the goal. Group B received a lump sum payment of $42; $1.40 was deducted daily for each day they did not achieve their goal. At the end of the experiment, Group B was significantly more successful in achieving the 7,000 steps per day. Upon which of the following behavioral economics concepts was this experiment based? O Setting defaults O Doing the right thing O Creating anchors O Loss aversion
In a recent experiment, participants were to take 7,000 steps per day. Group A received a payment of $1.40 per day if they achieved the goal. Group B received a lump sum payment of $42; $1.40 was deducted daily for each day they did not achieve their goal. At the end of the experiment, Group B was significantly more successful in achieving the 7,000 steps per day. Upon which of the following behavioral economics concepts was this experiment based? O Setting defaults O Doing the right thing O Creating anchors O Loss aversion
Chapter6: Off To School: Cognitive And Physical Development In Middle Childhood
Section6.1: Cognitive Development
Problem 7TY
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Transcribed Image Text:In a recent experiment, participants were to take 7,000 steps per day. Group A received a payment of
$1.40 per day if they achieved the goal. Group B received a lump sum payment of $42; $1.40 was
deducted daily for each day they did not achieve their goal. At the end of the experiment, Group B was
significantly more successful in achieving the 7,000 steps per day. Upon which of the following
behavioral economics concepts was this experiment based?
O Setting defaults
O Doing the right thing
O Creating anchors
O Loss aversion
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