Expected utility theory - Samenvattingen, Aantekeningen en Examens

Test Bank for Cohn Global Political Economy Theory and Practice 7th EditionChapter 1 Introduction Multiple Choice 1) Theorists who define globalization primarily as an economic phenomenon with little effect on the primacy of states are a) moderate globalists. b) hyperglobalists. c) internationalists. d) liberal economists. Answer: c; Page 7 2) Theorists who emphasize the fact that international relations is a “self- help” system are most often a) historical materialists. b) liberals. c...

rational decision making - Traditional economic theory that people are rational actors rational choice/public choice - people act based on their self interest what does it mean to be a rational actor? - You are able to rank, order your preferences based on the expected utility of each option. These rank ordered preferences are stable and transitive. Having perfect information about all alternative possibilities. Maximize your utility pure rationality - requires person to have complete inf...

Dit document omvat alle stof behandeld in de colleges Economic Psychology (2023/2024) gegeven door Marcel Zeelenberg aan TiU.

Combined notes on the lectures and *SOME* required readings from the course (2023) Rational Choice Theory. *DISCLAIMER* does NOT include any of the lectures’ practice questions. INCLUDES notes from (Total: 38 pages): Lectures 1-10. Kenneth A. Shepsle’s textbook (2nd edition, 2010) “Analyzing Politics: Rationality, Behavior and Institutions”, chapters 1 and 2 (2.1-2.8). Martin J. Osborne’s textbook (2003) “An Introduction to Game Theory”, chapters 1 and 2.

Comprehensive summary of the entire book of judgment and decision-making by Nancy S. Kim. Additional lecture notes are added and integrated in the chapters, with a topic of populism and social media that was given in lecture 5 in the course 'thinking and deciding' (2024/2025) at the RUG

Questions and solutions (attached at the end) to the practice questions provided in the course (2023) Rational Choice Theory. INCLUDES all the practice questions from lectures 1-10 and problem sets part 1 & 2 (Total: 35 pages).

Samenvatting van het boek dat hoort bij het vak 'Psychology of Economic Behavior'. De samenvatting omvat de volgende hoofdstukken: 1, 2, 3, 7, 8, 9, 10, 11, 19, 26. De samenvatting is in het Engels, maar is goed leesbaar. De begrippen worden tijdens het vak ook in het Engels gegeven en komen dus overeen met de begrippen zoals in deze samenvatting.

Chapter 01 – An Introduction to Business Ethics Multiple Choice 1. Principles are a. laws and regulations that guide behavior in the world of business. b. mores, values, and customs that guide behavior in general. c. specific and pervasive boundaries for behavior that are universal and absolute. d. the obligations businesses have to maximize their positive impact and minimize their negative impact. e. the mores, values, and customs that parents teach their children. ANSWER: c 2. Corpor...

SRA 231 COMPREHENSIVE EXAM 2024 WITH 100% CORRECT ANSWERS false - correct answer (true/false) decision theory is multidisciplinary across one academic field true - correct answer (true/false) there is no single unifying decision theory and it is difficult to discern between the various forms true - correct answer (true/false) rational = normative normative theory - correct answer assumes individuals act RATIONALLY in trying to find the best solution to optimize outcome i.e. what we...

"Predictably Irrational" - ANSWERS Dan Arely on price relativity, adding decoy option to choice set, consumers typically choose the middle option Does context effect decision making? - ANSWERS Yes, economists used to think not but current studies show that it actually does Compromise Effect - ANSWERS Tendency to choose the "middle" option in a choice set; extreme aversion; we avoid extremeness Anchor Pricing - ANSWERS when we encounter a new product (and new business) we accept the ...