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L&E: Behavioural Law and Economics - Statistics
General Stats
- This quiz has been taken 1 time
- The average score is 0 of 11
Answer Stats
| Hint | Answer | % Correct |
|---|---|---|
| People judge the likelihood of events based on how easily examples come to mind, which can lead to biased thinking when vivid or recent events dominate memory | Availability heuristic | 0%
|
| Humans make decisions with limited cognitive resources, time, and information, often settling for ‘good enough’ rather than optimal choices | Bounded rationality | 0%
|
| People aren’t always purely self-interested; they may care about fairness or others’ wellbeing at a cost to themselves | Bounded self-interest | 0%
|
| Individuals often struggle to follow through on long-term goals, especially when facing short-term temptations or pressures | Bounded willpower | 0%
|
| People often stick with pre-set option when it comes to making choices, choosing familiarity over change even though it may not be in their best self-interest | Default rules matter | 0%
|
| Aims to steer people's choices in a way that improves their well-being while preserving their freedom to choose. It relies on "nudges" | Libertarian paternalism | 0%
|
| Traditional L&E assumes individuals... | Maximise utility | 0%
|
| People tend to give stronger weight to immediate rewards over future ones, often leading to procrastination or impulsive decisions | Present bias | 0%
|
| Respond predictably | 0%
| |
| Stable preferences | 0%
| |
| A game in which one player proposes how to divide a sum of money, and the other can accept or reject it; rejections (even of small unfair offers) highlight people’s concern for fairness. | Ultimatum game | 0%
|
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