Anyone have a good example for self control, schweser example sounds a little like mental accounting? And what is the difference between representativeness and heuristic besides that representativeness is a type of heuristic? -Thanks.
self control --> you prefer dividend paying stocks because you believe that by having that income flow will prevent it would prevent you from diping into your capital base; you also fear outliving your assets heuristics is a broad category of behavioral biases, esentially people rely on rules of thumb because of limits on intelligence, time, etc representativeness is one type of heuristc biases, where people make judgements based on stereotypes