Question: 1. Read through the exercise in the text completely before you watch the video clip: Yamaha's Rhino Victims. Be sure to think about the scale of 1-100 question that is asked of you and make mental note of it.
2. After watching the video, what examples can be explained in the clip to illustrate the "illusion of control" heuristic? Explain why.
3. Now, after viewing the clip, reconsider your 1-100 response from above. What is now the likelihood that you would use the Rhino for free? If you changed it, why? If you didn't change, why not? Read through your peers' responses and comment/think about the differences that may present themselves on the board. Are you shocked at anyone's response?
4. Think about the following heuristics: availability, simulation, representation, anchoring with adjustment, loss and risk aversion. What heuristics most likely helped you make your decision and why? Explain.