Q1. We have discussed different kinds of biases that consumers have, which arise because they use short-cuts in decision-making, referred to as heuristics. There are three kinds of cognitive biases that can come into play. Please discuss a real-life consumer behavior application of any one of them (i.e., cognitive biases) with proper explanation – except for the examples taken during the course. If you are taking any material from the internet, please give the web links of your sources. (Please note that I might need to see the specific application you are discussing, so please mention the web links).

[Length of the answer: Max 250 words. ELSE DISLIKE