The aim of this exercise is for you to identify, catalogue and explain instances of some of the heuristics and biases that have been uncovered by the behavioural economics research program.
What you are required to do is to find a real, current example of a business model, pricing strategy, marketing technique etc that exploits, or relies on for its success, one of the following:
This has to be something that you have observed in the world around you currently, not an example from course materials, books, articles or other second-hand sources. You need to hunt this one down yourself. Document it with photographs, screenshots or whatever representation is most appropriate. Be sure to supply the time and place in which you encountered it (either real or online – supply a url for the latter) in your response.
In discussing your example address these points:
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