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? - Setting defaults - Doing the right thing - Creating anchors - Loss aversion

Phlebotomy Essentials
6th Edition
ISBN:9781451194524
Author:Ruth McCall, Cathee M. Tankersley MT(ASCP)
Publisher:Ruth McCall, Cathee M. Tankersley MT(ASCP)
Chapter1: Phlebotomy: Past And Present And The Healthcare Setting
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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?

- Setting defaults
- Doing the right thing
- Creating anchors
- Loss aversion
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? - Setting defaults - Doing the right thing - Creating anchors - Loss aversion
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