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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. What term introduced by Nassim Taleb describes how flawed stories of the past shape our views of the present and the future?
2. Consider the following sentence from Chapter 19 where the author describes people who "knew well before it happened that the 2008 financial crisis was inevitable" (385). What objectionable word does the author point out in this sentence?
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. Who was the anesthesiologist who intervened regarding physicians' and midwives' clinical judgment to determine whether a baby faced breathing distress?
5. In Chapter 31, the author posits that the main motivators of money-seeking individuals (aside for the very poor) are what?
Short Essay Questions
1. Why does the author credit Virginia Apgar with saving the lives of many infants?
2. What is the expected utility hypothesis?
3. What is broad framing? What is narrow framing?
4. What two different meanings does the author attribute to the word utility in Chapter 35?
5. What is the endowment effect?
6. What is a correlations coefficient?
7. What is the principle of diminishing sensitivity?
8. What is an illusion of skill?
9. How does the author describe regret in economics?
10. What is the principle of loss aversion?
Essay Topics
Write an essay for ONE of the following topics:
Essay Topic 1
What is the illusion of memory? What example does the author provide to demonstrate this illusion? What are examples of your own experiences (or fictional examples) that demonstrate this illusion?
Essay Topic 2
Discuss Daniel Bernoulli and his contributions to the study of decision making. What approach did Bernoulli introduce to the evaluation of gambles? Why is Bernoulli's theory flawed?
Essay Topic 3
What is the priming effect? What are different manifestations of the priming effect? Give examples from the text and from your own experience that demonstrate priming effects.
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This section contains 709 words (approx. 3 pages at 300 words per page) |
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