Author Question: What is the behavioral economics approach? A) The approach that represents behavior demonstrated ... (Read 72 times)

Redwolflake15

  • Hero Member
  • *****
  • Posts: 569
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

  • Sr. Member
  • ****
  • Posts: 345
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.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

For a complete list of videos, visit our video library