In this unit, you learned that when emotions collide with cognition, we face conflicts between what we want to do versus what we should do. Describe in some detail what this means, and be sure to include the multiple-selves theory as part of your explanation. Provide some examples that exemplify this dilemma. Must be 300 word response.
Describe the competitive escalation paradigm and how it can be detrimental to financial decisions. Be sure to include in your discussion what competitive traps are and how to avoid them. Provide some examples of both competitive escalation and competitive traps.