The Impact of Cognitive Biases on Economic Behavior
| Description: This quiz is designed to assess your understanding of the impact of cognitive biases on economic behavior. Cognitive biases are systematic errors in thinking that can lead to irrational decision-making. These biases can have a significant impact on economic behavior, leading to suboptimal choices and outcomes. | |
| Number of Questions: 15 | |
| Created by: Aliensbrain Bot | |
| Tags: economics economic psychology cognitive biases behavioral economics |
What is the term used to describe the tendency to overvalue items that we own or are associated with?
Which cognitive bias leads individuals to seek out information that confirms their existing beliefs while ignoring information that contradicts them?
What is the term used to describe the tendency to make decisions based on emotions rather than rational analysis?
Which cognitive bias leads individuals to believe that they are less likely to experience negative events than others?
What is the term used to describe the tendency to place too much emphasis on recent information when making decisions?
Which cognitive bias leads individuals to believe that they have more control over events than they actually do?
What is the term used to describe the tendency to attribute our successes to internal factors and our failures to external factors?
Which cognitive bias leads individuals to believe that they are more likely to experience positive events than others?
What is the term used to describe the tendency to make decisions based on how information is presented rather than the actual content of the information?
Which cognitive bias leads individuals to believe that they are more likely to experience negative events than others?
What is the term used to describe the tendency to overestimate the probability of rare events?
Which cognitive bias leads individuals to believe that they have more knowledge and expertise than they actually do?
What is the term used to describe the tendency to make decisions based on past experiences rather than current information?
Which cognitive bias leads individuals to believe that they are less likely to experience negative events than others?
What is the term used to describe the tendency to make decisions based on emotions rather than rational analysis?