Introduction

Question 1

Individualism and consequentialism are a pillar of the neoclassical economics

Answer 1

True

Question 2

Neoclassical economics uses mathematical normative models

Answer 2

True

Question 3

According to neoclassical economics, the market is the perfect allocative mechanism

Answer 3

True

Question 4

According to neoclassical economics, organizations are agents capable of action

Answer 4

False, 14

Question 5

The postulate of ??? tells that only individuals are economic agents capable of action

Answer 5

Individualism

Question 6

According to neoclassical theory, knowing the opinion of an individual is not important. Only actions matter

Answer 6

False

Question 7

The postulate of ??? requires that agents take choices given that they know their consequences

Answer 7

Consequentiality

Question 8

According to NCE (neoclassic economics) people know that their choices will lead to known consequences

Answer 8

True

Question 9

An agent is interested only in the consequences that they will face

Answer 9

True

Question 10

The postulate of ??? requires that agents take into account only the consequences they will personally face when it’s time for a decision

Answer 10

Selfishness

Question 11

According to NCE, every decision whose benefits are higher than the costs can be chosen

Answer 11

False

Question 12

The postulate ??? tells that people maximize their utility by taking the choice that at most maximizes the positive difference between benefits and costs

Answer 12

cost-benefit calculation

Question 13

The postulate of ??? requires the researcher to understand an agent’s actions, beliefs, and opinions in order to understand social phenomenon

Answer 13

understanding

Question 14

According to NCE, agents are able to get the best possible results given some constrains (substantial rationality)

Answer 14

True

Question 15

According to NCE, agents maximize their utility function

Answer 15

True

Question 16

If an agent does not optimize their utility function best they reach the results rationality, it is said that they follow ??? rationality instead of ??? rationality

INCOMPRENEIBILR

Answer 16

procedural, substancial

Question 17

??? is an invented word for describing the behavior of procedural rationality

Answer 17

Satisficing

Question 18

Target the Two experiments showed that people do not create habits if they work with repetitive activities

Answer 18

False

Question 19

In the target the two experiments there is one player that can change their card with the target if they are of the same color while the other can exchange only if they are of the same number

Answer 19

True

Question 20

In the game “target the two”, strategies 442 and 224 are indifferent to the initial desk

Answer 20

False

Question 21

??? are mental shortcuts that help the decision makers to build judgements and to take decisions that can be efficient considering the cognitive constraints

Answer 21

Heuristics

Question 22

??? are decision makers’ systematic and unconscious patterns of responses to judgment and decision problems. ??? are often produced using heuristics

Answer 22

Biases

Question 23

We can define heuristics as low-awareness “decision modules”

Answer 23

True pg 51

Question 24

We are aware, when we use a heuristic, that we are using it

Answer 24

False 51

Question 25

Biases are systematic errors of judgment that result from the use of heuristics

Answer 25

True

Question 26

Heuristics are always inefficient decision model

Answer 26

False

Question 27

Representativeness Availability Adjustment and anchoring Are some famous heuristics

Answer 27

True

Question 28

The ???? heuristics implies that when a property is highly representative of A, then the probability that the property originates from A is considered high

Answer 28

Presentativeness

Question 29

"I tossed a coin four times and it always came tail, therefore the coin is rigged". This is an example of what heuristics?

Answer 29

Representativeness heuristics (insensitivity to sample size)

Question 30

"He's a very eccentric man, he must work in something related to creativity" is an example of what heuristics?

Answer 30

Representativeness (base-rate frequencies)

Question 31

The ????? is a statistical phenomenon so that given one extreme sample of a stochastic variable, another sample will be nearer to the mean

Answer 31

Regression toward the mean

Question 32

The performance in a test is normally distributed with a mean of 100 and a standard deviation of 15. People come not prepared for the test, which contains questions regarding any kind of education field. Two persons' scores stand out. One person's score is 130. This person is praised Another person's score is 70. This person is reprimanded. Since the score of the two samples are random when they repeat the test the results are 97 for the first person and 102 for the second. Therefore the instructor thinks that reprimanding enhances performance while praising does the contrary. This describes which statistical effects?

Answer 32

Regression towards the mean

Question 33

In general, the frequency of salient and recent events is overestimated because of which heuristics?

Answer 33

Availability

Question 34

"One month ago there was a radiation leakage at the nuclear plant. Nuclear power is a high danger for our health " This thought describes which heuristics?

Answer 34

Availability

Question 35

The ??? heuristics says that the probability of an event is defined according to the ease with which the event comes to mind

Answer 35

Availability

Question 36

T&K proved that given lists of famous people of different sexes, the guessed majority sex was correlated with a high percentage of relatively more famous people of that guessed sex in the list. This experiment regard which heuristics?

Answer 36

Availability

Question 37

If we show these sequences to two different people, one for each 8x7x6x5x4x3x2x1 1x2x3x4x5x6x7x8 and we ask the people to guess the results, we can expect that the former result will be significantly higher than the latter. This is due to which heuristics?

Answer 37

Anchoring

Question 38

Estimations are done starting from an initial value and then adjusted with respect to this reference, which is generally insufficient. This defines which heuristics?

Answer 38

Anchoring/adjustment

Question 39

If we show this sequence to a person 8x7x6x5x4x3x2x1 And we ask them to guess the result We can think that their guess will be significantly lower that the actual value. This is due because of which heuristics? SBAGLIATA

Answer 39

Anchoring