Expected value and consumer choices

Assignment 2: Expected Value and Consumer Choices

Consumers’ choices are prey to subtle discrepancies that arise in cognitive accounting. Learning how and when you are prey to these discrepancies is an important step in improving your decision making.

As the readings for this module demonstrate, people value gains and losses differently under different scenarios. For example, contestants in a game show might choose a guaranteed $10 prize over a 50 percent chance of winning $20 despite the fact that the expected values are the same.

Using the readings for this module, the Argosy University online library resources, and the Internet, address the following:

What is mental accounting and how does it impact consumer decision making?
How might a company take advantage of consumers’ mental accounting? Give examples.
As a marketer, how might you frame certain decisions to benefit from the disparities that arise in one’s cognitive accounting?
As a consumer, how would you avoid the pitfalls posed by the inequalities of one’s cognitive accounting?

Write a 3–5-page paper in Word format. Apply APA standards to citation of sources. Use the following file naming convention: LastnameFirstInitial_M4_A2.doc.

By Wednesday, February 19, 2014, deliver your assignment to the M4: Assignment 2 Dropbox.

Assignment 2 Grading Criteria	Maximum Points
Examined the concept of mental accounting and how it impacts consumer decision making.	20
Adequately described how a company can take advantage of consumers’ mental accounting, providing appropriate examples.	24
As a marketer, explained how certain decisions might be framed to benefit from the disparities that arise in one’s cognitive accounting. As a consumer, explained how to avoid the pitfalls posed by the inequalities of one’s cognitive accounting.	36
Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation.	20
Total:	100

Continue to order Get a quote

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Custom-written and plagiarism-free papers: Our authors create their work from scratch. Before presenting them to clients, we routinely verify them for signs of plagiarism. Our quality assurance group also double-checks and fixes any grammatical errors, assuring that all of our authors adhere to the same standards of writing.
The significance of timely delivery cannot be overstated, and we consistently strive to meet or exceed our clients' deadlines. Regardless of the short time frame, you can count on our writers to get the job done. We always have a team of writers ready to go, even if the deadline is only six hours away.
Customer Satisfaction: Our customer service representatives are the best in the business and have a wealth of knowledge in dealing with clients. All our customer service representatives are trained to listen and reply promptly until you are satisfied with their service. To ensure you're happy, our expert writers will strictly follow the criteria to generate a special report. Our customer service may be contacted by chat, email, or phone. In addition, we provide round-the-clock assistance to all of our clients.
Confidentiality: Our systems are safe, and your information is always protected. We're constantly looking for new facts when it comes to finishing your work. We use a safe and secure payment channel. Since our ordering process is completely anonymous, you don't have to provide any credit card information to place a purchase with us.
Highly Trained Authors: Our writers have received extensive training and are committed to delivering only the best papers. They are fluent in APA, MLA, HARVARD, IEEE, CHICAGO, and AMA referencing styles. To meet your expectations, our skilled writers always pay close attention to your instructions.
Lowered prices: We have set prices that are already discounted. Our prices are the best and affordable for all our esteemed customers.

Expected value and consumer choices

Recent Posts

Recent Comments

Calculate the price of your order