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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

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

2. What dean of the University of Chicago Graduate School of Business was a firm believer in standard economic theory?
(a) John Gottman.
(b) Richard Thaler.
(c) Richard Rosett.
(d) Bruno Frey.

3. Who wrote the bestseller book Blink?
(a) Baruch Fischhoff.
(b) Danny Oppenheimer.
(c) Christopher Hsee.
(d) Malcolm Gladwell.

4. Who coined the term "denominator neglect"?
(a) Craig Fox.
(b) Paul Slovic.
(c) Shane Frederick.
(d) John Gottman.

5. Who introduced the term "affective forecasting"?
(a) John List.
(b) Christopher Hsee.
(c) Baruch Fischhoff.
(d) Daniel Gilbert and Timothy Wilson.

6. To whom is the following quote attributed: "The agent of economic theory is rational, selfish, and his tastes do not change" (525)?
(a) Gary Klein.
(b) John Gottman.
(c) Richard Thaler.
(d) Bruno Frey.

7. Who is the heroine of La Traviata who dies after sacrificing for love?
(a) Violetta.
(b) Maria.
(c) Anna.
(d) Sarah.

8. When did the CIA obtain information that al-Qaeda might be planning a major attack against the United States?
(a) March 12, 2001.
(b) July 10, 2001.
(c) September 9, 2001.
(d) January 2, 2000.

9. Whose study on duration neglect and the peak-end rule involved a story of Jen, who died instantly in an automobile accident?
(a) Ed Dienter's.
(b) John Gottman's.
(c) Baruch Fischhoff's.
(d) Christopher Hsee's.

10. What term refers to the quality of being noticeable or important?
(a) Articulate.
(b) Salience.
(c) Endowment.
(d) Heuristic.

11. Who coined the term "Econs and Humans"?
(a) Richard Thaler.
(b) Gary Klein.
(c) John Gottman.
(d) Bruno Frey.

12. What is the conclusion of the paper "Trading is Hazardous to Your Health"?
(a) Both active traders and inactive traders earned similar returns.
(b) The most active traders had the poorest results while the least active traders earned the highest returns.
(c) The speed of which trading correlates directly with loss aversion.
(d) The most active traders earned the highest returns while the least active traders earned low returns.

13. Who is the finance professor at U.C. Berkeley who created a study wherein he examined the trading records of 10,000 brokerage accounts of individual investors over a seven-year period?
(a) Jim Collins.
(b) Malcolm Gladwell.
(c) Baruch Fischhoff.
(d) Terry Odean.

14. Who first demonstrated the hindsight bias as a student in Jerusalem?
(a) John List.
(b) Malcolm Gladwell.
(c) Christopher Chabris and Daniel Simons.
(d) Baruch Fischhoff.

15. The author notes in Chapter 36 that "Caring for people often takes the form of concern for the quality of their stories, not for" what (744)?
(a) "Their feelings."
(b) "Their history."
(c) "Their logic."
(d) "Their confidence."

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. How many fatalities came about as a result of bus bombings in Israel between December 2001 and September 2004?

3. What psychologist demonstrated disgust by relating that one cockroach could ruin the appeal of a bowl of cherries, but that one cherry would not do anything for a bowl of cockroaches?

4. The author asserts that errors of prediction are inevitable for what reason?

5. Who wrote that "chances of rare events (such as the burst of housing bubbles) receive less impact than they deserve according to their objective probabilities" (639)?

(see the answer keys)

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