Ramona'is bidding on an auction item against several otherpeople. She knows the bid is already...

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Economics

Ramona'is bidding on an auction item against several otherpeople. She knows the bid is already too high, but she doesn't wantto give up, so she continues bidding. This is an example of the

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bias. hindsight tepretentativeness analomotioner a Juslmenteseafarion of commitment

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