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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. The author offers a scenario in which a subject purchases a $200 concert ticket to see their favorite band. They find that others are offering $3,000 for the ticket, but they do not sell it. What is this an example of?
(a) Theory-induced blindness.
(b) Narrative fallacy.
(c) The availability cascade.
(d) Endowment effect.

2. How is the decision construction of broad framing defined by the author?
(a) Two simple decisions, considered separately.
(b) Four simple decisions, considered separately.
(c) A single decision with four options.
(d) A single decision with two options.

3. Given the following information, what percentage of respondents answered Mr. Brown? "Mr. Brown almost never picks up hitchhikers. Yesterday he gave a man a ride and was robbed" and "Mr. Smith frequently picks up hitchhikers. Yesterday he gave a man a ride and was robbed" (666)?
(a) 95%.
(b) 16%.
(c) 45%.
(d) 88%.

4. The author points out in Chapter 31 that professional golfers putt more successfully when doing what?
(a) Trying to achieve a birdie while avoiding a bogey.
(b) Avoiding a bogey rather than trying to achieve a birdie.
(c) Avoiding a birdie rather than trying to achieve a bogey.
(d) Trying to achieve a birdie while ignoring the bogey.

5. 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?
(a) Richard Thaler.
(b) Bruno Frey.
(c) Paul Rozin.
(d) John Gottman.

Short Answer Questions

1. 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)?

2. In Introduction to the Principles of Morals and Legislation, the author points out that "Nature has placed mankind under the governance of two sovereign masters" (728). What are these masters defined as?

3. What aspect of the mind answers the question: "Does it hurt now" (734)?

4. When did the CIA obtain information that al-Qaeda might be planning a major attack against the United States?

5. In what branch of the military did the author complete service?

Short Essay Questions

1. What is broad framing? What is narrow framing?

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

3. What are the three qualifications when deciding whether or not to accept a small risk with positive expected value?

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

5. What is a framing effect?

6. What is hindsight bias?

7. What does "hedonimeter" refer to?

8. What is flow?

9. How did Nassim Taleb define the term narrative fallacy in The Black Swan?

10. Why does Kahneman cite the book Expert Political Judgment: How Good Is It? Who wrote this book?

(see the answer keys)

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