Behavioral Decision Theory and Behavioral Economics – Quiz

1. Heuristics are:

 
 
 
 

2. The “availability heuristic” describes a tendency to:

 
 
 
 

3. Behavioral economics recognizes that consumer decisions are influenced by:

 
 
 
 

4. In BDT, “risk aversion” typically leads to:

 
 
 
 

5. “Herd behavior” refers to:

 
 
 
 

6. Which of the following is a common cognitive bias discussed in behavioral economics?

 
 
 
 

7. Confirmation bias in consumer behavior means:

 
 
 
 

8. The “status quo bias” leads consumers to:

 
 
 
 

9. Choice overload can result in:

 
 
 
 

10. In BDT, loss aversion means consumers:

 
 
 
 

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