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Author Question: What is the behavioral economics approach? A) The approach that represents behavior demonstrated ... (Read 50 times)

Redwolflake15

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on: Jul 7, 2018
What is the behavioral economics approach?
 
  A) The approach that represents behavior demonstrated when people decide economic problems
  B) The approach that investigates why people predictably make irrational decisions
  C) The approach that was named after the Nobel prize winning economic developers
  D) The approach that measures behaviors economically and attempts to account for the way people actually make decisions

Question 2

What is the hindsight bias?
 
  A) Changing viewpoints based on new information but not admitting the change
  B) Changing viewpoints based on new information
  C) The ability to objectively assess what they should or would have done after the fact (also known as Monday morning quarterbacking)
  D) Only occurs in situations that end in less than optimal outcomes


macagn

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Reply #1 on: Jul 7, 2018
Answer to Question 1

You are a life saver.

Answer to Question 2

A
Explanation: A) The hindsight bias is a lie (to ourselves or others) that we held the position originally when we changed to the correct answer/viewpoint/decision after learning new information or learning the outcome.


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