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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. In the following example from Chapter 30, the author posits the following in regards to a person choosing a marble from an urn. The red marbles win a prize. "Urn A contains 10 marbles, of which 1 is red. Urn B contains 100 marbles, of which 8 are red" (631). What are the chances of winning in Urn A?
3. Who designed the study along with Kahneman that involves two patients undergoing a painful colonoscopy?
4. What term refers to the state that some artists experience in creative moments and other experience through films, books, etc.?
5. In utility theory, the utilty of a gain is assessed by comparing what?
Short Essay Questions
1. What is a correlations coefficient?
2. What are the three qualifications when deciding whether or not to accept a small risk with positive expected value?
3. What story from Malcolm Gladwell's book Blink does the author present?
4. What does "hedonimeter" refer to?
5. What is the principle of loss aversion?
6. What two different meanings does the author attribute to the word utility in Chapter 35?
7. How do prospect theory and utility theory differ?
8. How does the author describe regret in economics?
9. What is a framing effect?
10. What is the principle of diminishing sensitivity?
Essay Topics
Write an essay for ONE of the following topics:
Essay Topic 1
What is the halo effect? How does the author demonstrate the halo effect through examples in the text? How would the halo effect come into place when interviewing potential employees for a position?
Essay Topic 2
What is confirmation bias and how does it contribute to associative memory? How does it contribute to positive test strategy? What are examples of confirmation bias?
Essay Topic 3
Discuss the Law of Small Numbers. What does this law state? How does the author illustrate the law? How does the law come into play when we assess statistics from scientific studies?
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This section contains 711 words (approx. 3 pages at 300 words per page) |
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