2. According to the author in Chapter 26, "In bad choices, where a sure loss is compared to a larger loss that is merely probable," what is the result (552)?

3. Who coined the term "Econs and Humans"?

4. Who proved mathematically that attempts to explain loss aversion by the utility of wealth are doomed to fail?

5. Who was concluded to achieve better investment results in "Boys Will Be Boys"?

Short Essay Questions

1. What is hindsight bias?

2. What is a framing effect?

3. What is a correlations coefficient?

4. What evidence was presented by Ed Diener and his team when examining vacations?

5. Why was Kahneman astonished upon reading an essay by Bruno Frey?

6. What is an illusion of skill?

7. How does the author suggest a person should go about hiring a sales representative for his firm using algorhythms?

8. What did Tversky and Kahneman conclude in their study of pain during medical procedures?

9. How does the author describe regret in economics?

10. What is the endowment effect?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Discuss the concepts of cognitive ease and cognitive strain. How are each defined? How do cognitive ease and strain relate to System 1 and System 2? What are the causes and symptoms of cognitive ease and strain?

Essay Topic 2

What is prospect theory? What are the principles of prospect theory? How does the model of prospect theory differ from normative models?

Essay Topic 3

What are the different actions that the author presents in "How to Write a Persuasive Message"? Give an example of each action one should take. What are the impacts of these actions on the audience/reader?

(see the answer keys)

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