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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 30 - 34.

Multiple Choice Questions

1. How many of the participants in Nisbett's experiment at the Univerity of Michigan never got out of their booth when the stooge pleaded for help?
(a) 2.
(b) 6.
(c) 13.
(d) 4.

2. The author states in Chapter 26, "In mixed gambles, where both a gain and a loss are possible," what happens (552)?
(a) "Loss aversion causes extremely risk-averse choices."
(b) "Confidence overrides logic."
(c) "Risk seeking behavior causes extremely loss aversive choices."
(d) "Loss aversion causes narrative fallacies."

3. What organization paid for Thaler to spend a year working with Kahneman in Vancouver?
(a) The Michael Conner Foundation.
(b) The Spencer C. Kaufman Foundation.
(c) The Russell Sage Foundation.
(d) The Roosevelt Foundation.

4. Who introduced the labels System 1 and System 2 as systems of the mind?
(a) Nassim Taleb.
(b) Mihaly Csikszentmihalyi.
(c) Larry Jacoby.
(d) Keith Stanovich and Richard West.

5. What label is given to the documented research showing a massive preference for selling winners rather than losers?
(a) Disposition effect.
(b) Endowment effect.
(c) Loss aversion.
(d) Narrative fallacy.

Short Answer Questions

1. What term refers to an approach to problem solving that employs a practical method not guaranteed to be perfect, but sufficient for the immediate goals?

2. Who wrote Judgment in Managerial Decision Making?

3. In assessing the stock market, the author asserts that skill in evaluating the business prospects of a firm is not sufficient for stock trading. Traders often lack the skill to answer what crucial question?

4. What term refers to elementary rules, or statements regarded as established?

5. Who used a method to test intentional causality by making a film in 1944 that involved a circle and two triangles?

(see the answer key)

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