Is the effect of people being more likely to choose the first option called the primary effect or the primacy effect? The notes and solutions seem to use the two terms interchangeably
The current Core Reading calls it the primary effect, so I would go for that term in the exam. The term 'primacy' is also used in other behavioural finance literature and I guess this is why these terms are used interchangeably. Hope that helps Gresham
