FINAL EXAM - This Exam contains: -Guarantee passing score -5...

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FINAL EXAM

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -55 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: "When choice is demotivating" study (Schwartz)

Answer:

Jam Study: More options leads to leads to less purchasing (overwhelmed by having to make the decision) Chocolate Study: Participants with only 6 chocolates to choose from were more likely to choose chocolate payment over cash (not motivated to choose if there are too many options- decide not to decide)

Question 2: Libertarian paternalism (Thaler & Sunstein)

Answer:

-Libertarian: people should be free to do what they like, make their own choices (liberty) -Paternalism: influence behavior in order to make life better (longer + healthier lives) Question 3: insightful problem solving (Decision Making and Problem Solving in Non-Human Animals)

Answer:

"aha" moment- suddenly knowing the solution to a problem without trail and error (not incremtntal)

Question 4: Metaphors about reason vs. emotion (e.g., Plato, Freud) (Lehrer)

Answer:

• mind was a chariot when getting pulled be two house's while the rational part of the brain is the reins

and decide where the animals should run.-one horse doesn't listen and it represented the negative emotions.

Question 5: NFL quarterbacks and Wonderlic test (Lehrer)

Answer:

NFL scouts take the decision-making skills of quarterbacks very seriously. The league requires that every player in the draft take the Wonderlic intelligence test, which is essentially a shorter version of the standard IQ test. The test is twelve minutes long and consists of fifty questions that get progressively harder as the test goes along.Here's an example of an easy Wonderlic question: "Paper sells for 2 cents per pad. What will four pads cost?" And here's a hard Wonderlic question: "Three individuals form a partnership and agree to divide the profits equally. X invests $9,000, Y invests $7,000, Z invests $4,000. If the profits are $4,800, how much less does X receive than if the profits were divided in proportion to the amount in vested?The underlying thesis of the Wonderlic test is that players who are better at math and logic problems will make better decisions in the pocket. At first glance, this seems like a reasonable assumption. No other position in sports requires such extreme cognitive talents. Successful quarterbacks need to memorize hundreds of offensive plays and dozens of different defensive formations. They need to spend hours studying game tape of their opponents and be able to put that knowledge to use on the field. In many instances, quarterbacks are even responsible for changing plays at the line of scrimmage.The reason there is virtually no correlation between the results of the Wonderlic and the success of quarterbacks in the NFL is that finding the open man involves a very different set of decision-making skills than solving an algebra problem. While quarterbacks need to grapple with complexity-the typical offensive playbook is several inches thick-they don't make sense of the football field the way they make sense of questions on a multiple-choice exam. The Wonderlic measures a specific kind of thought process, but the best quarterbacks don't think in the pocket. There isn't time/

Question 6: The "paradox of our times" (Schwartz)

Answer:

people want more control over their lives but they also want their lives to be simplified.Most people stick to the phone plan that they are used to (default) and also takes a lot of time and through to make good choices in the modern world with many choices Question 7: How much do we shop? How much do we like it? (and historical trends) (Schwartz)

Answer:

People are shopping more than ever but people are enjoying it less. It ranked next-to-last enjoyment.Teenager girls do enjoy shopping, but they are doing it for enjoyment rather than having to provide for themselves and their familes.

Question 8: How many choices do we have now in various areas of life (and historical trends)?[grocery shopping, gadgets, mail order, college courses, entertainment, utilities, health insurance, retirement plans, medical care, beauty, careers, lifestyle, religion, identity] (Schwartz)

Answer:

-30,000 items on the shelves in supermarkets then different brands for each product -electronic gadgets where you may have to narrow down choices based on particular needs and then pick between the last few possible choices.-college curriculum where a century ago, it is more of a rigid course outline where now there a many class options and flexibility

Question 9: Social nudge (Thaler & Sunstein)

Answer:

A nudge, as we will use the term, is any aspect of the choice architecture that alters people's behaviour in a predictable way without forbidding any options or significantly changing their economic incentives

Question 10: TD-Gammon vs. Deep Blue (Lehrer)

Answer:

=TD-Gammon: (TD stands for temporal difference) generates a set of predications about how the backgammon game will unfold.-Deep Blue: the computer program doesn't investing every passible permutation. Instead, it acts like Carry Kasparov and generates its predictions from its previous experiences Question 11: When do we need a nudge? (difficulty, frequency, feedback) (Thaler & Sunstein)

Answer:

Degree of Difficulty - We need help as the problems in front of us become more difficult like picking the right mortgage compared to a loaf of bread.Frequency - If the frequency with which we face the problems is very low. We face some problems regularly and learn to cope with them through trial and error. Problems for which there are not too many opportunities, may need nudging.Feedback - Situations and choices that do not provide or are not structured to provide feedback, are good candidates for receiving a nudge.Question 12: Please be able to describe the methods, results, and implications for the following

studies (you should be able to write a summary paragraph about the study):

Kuba et al. (2010) (Decision Making and Problem Solving in Non-Human Animals)

Answer:

In the training phase, the stingrays learned the location of their food and how to retrieve it within 2 days.Researchers noted that the female stingrays retrieved food from the right tube more often than the males and the male stingrays retrieved food from the left tube more often than the females. The genders

also varied in the style they used to obtain their food. Females would use their undulating fin movements to produce a current that caused the food to move towards them. Alternatively, males would use their bodies to suction water, which would produce a current that caused the food to move towards them. In the problem-solving task, the stingrays learned to locate the food in the eight experimental sessions. The stingrays used the same skills to retrieve food as they did during the training phase; however, researchers indicated the stingrays to use a specific retrieval skill, such as fin movement, suction, or a combination of both, during each of the trials. The females were more likely to bite the apparatus or put it in their mouth. The stingrays retrieved the food faster as the trials continued; however, the latency of finding food increased when there was a long break between attempts. The results showed that four out of five stingrays learned through trial and error, but the one of the male was able to use the cues correctly 100% of the time during the trials.aditionally, in the testing phase there was one male who began using water-jets blown into the pipe to retrieve the reward.

Question 13: Stimulus-response compatibility (Thaler & Sunstein)

Answer:

idea is that you want the signal you receive (the stimulus) to be consistent with the desired action. When there are inconsistencies, performance surfers and people blunder.

Question 14: Seligman's learned helplessness study (Schwartz)

Answer:

-experiment that involved teaching three different groups of animals to jump over a little hurdle from one side of a box to the other to escape or avoid an electric shock.-One of the groups was given the task with no prior exposure to such experiments.-A second group had already learned to make a different response, in a different setting, to escape from shock.-hat this second group would learn a bit more quickly than the first, reasoning that some of what they had learned in the first experiment might transfer to the second.-third group failed to learn at all -Learned helplessness can affect future motivation to try. It can affect future ability to detect that you do have control in new situations -Learned Helpesness: a condition in which a person suffers from a sense of powerlessness, arising from a traumatic event or persistent failure to succeed. It is thought to be one of the underlying causes of depression.

Question 15: Mere measurement effect (Thaler & Sunstein)

Answer:

phenomena in which an individual who question another's intentions or anticipated regret are more likely to change their own actions or behaviors.