Economic Psychology and Behavioral Economics
Description: This quiz covers the field of Economic Psychology and Behavioral Economics, exploring the psychological and behavioral factors that influence economic decision-making. | |
Number of Questions: 15 | |
Created by: Aliensbrain Bot | |
Tags: economic psychology behavioral economics decision-making consumer behavior economic theory |
Which concept in Economic Psychology and Behavioral Economics refers to the tendency for individuals to overvalue items they already own or possess?
What is the term used to describe the tendency for individuals to be more risk-averse when faced with potential losses compared to potential gains?
Which theory in Behavioral Economics suggests that individuals' preferences and choices are influenced by the way options are presented or framed?
What is the term used to describe the tendency for individuals to make decisions based on limited information and cognitive resources, rather than engaging in fully rational analysis?
Which concept in Economic Psychology and Behavioral Economics refers to the tendency for individuals to be influenced by social norms and expectations when making economic decisions?
What is the term used to describe the tendency for individuals to prefer the status quo and resist change, even when presented with potentially beneficial alternatives?
Which theory in Behavioral Economics proposes that individuals' choices are influenced by their emotions and feelings, rather than solely by rational calculations?
What is the term used to describe the tendency for individuals to be more likely to remember and recall positive information compared to negative information?
Which concept in Economic Psychology and Behavioral Economics refers to the tendency for individuals to overweight small probabilities of large gains or losses, leading to risk-taking behavior?
What is the term used to describe the tendency for individuals to be influenced by the actions and behaviors of others, often leading to conformity and herd behavior?
Which theory in Behavioral Economics proposes that individuals' choices can be influenced by subtle cues and nudges in the environment, without directly restricting their options?
What is the term used to describe the tendency for individuals to overestimate their own abilities and skills, leading to unrealistic expectations and overconfidence?
Which concept in Economic Psychology and Behavioral Economics refers to the tendency for individuals to seek out information that confirms their existing beliefs and ignore or discount information that contradicts them?
What is the term used to describe the tendency for individuals to make decisions based on their immediate desires and impulses, rather than considering long-term consequences?
Which theory in Behavioral Economics suggests that individuals' choices are influenced by their perception of fairness and reciprocity, leading to altruistic behavior and cooperation?