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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. In one example provided by the author in Chapter 31, he establishes two sports fans going to a game while facing a blizzard. One bought his ticket and the other one got his for free from a friend. The author asserts that the fan who paid is more likely to drive. What provides the explanation for this assertion?

2. What term refers to the quality of being noticeable or important?

3. How are decision weights and probabilities regarded in prospect theory?

4. One of the decision problems that Kahneman and Tversky examined (as discussed in Chapter 25) was whether one would choose a coin toss in which the winner wins $100 or what?

5. 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?

Short Essay Questions

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

2. What is an illusion of skill?

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

4. What findings were published in "Money, Kisses, and Electric Shocks: On the Affective Psychology of Risk"?

5. What is flow?

6. What two different meanings does the author attribute to the word utility in Chapter 35?

7. What is hindsight bias?

8. What story from Malcolm Gladwell's book Blink does the author present?

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

10. What is a correlations coefficient?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Describe and discuss the Cognitive Reflection Test. Who constructed the test? What does "cognitive reflection" refer to? What are the author's conclusions regarding the test?

Essay Topic 2

Discuss the conclusions of Paul Slovic in regards to decision making, availability, and risk. How does Slovic consider most people to be in terms of how they are guided in decision making? Does the author agree or disagree with Slovic's conclusion? Why?

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?

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