Exam 23: Public Policy and Choice Architecture

Jessica's workplace is collecting money for a lottery pool.Each employee can choose to contribute $50,with a 1 in 600,000 chance of winning $1 million.If Jessica chooses not to contribute to the lottery pool,she is probably experiencing:

When considering choice architecture,a nudge:

The term time inconsistency is used to describe:

The average person is more likely to make a mistake choosing ___________ than what to have for dinner due to the complex nature of the topic.

Status-quo bias is:

If someone asked you to predict the price of gas in a month,and you decided to just guess by adding a few cents to the current price of gas,which you know,your answer would exhibit:

A store is choosing between advertising a credit card fee or a discount for paying cash to its customers.People will care more about:

A store is choosing between advertising a credit card fee or a discount for paying cash to its customers.More customers are likely to pay cash if the store owner advertises:

Choice architecture focuses on such factors as:

If choice architects frame choices in terms of social norms people will:

The most common form of "forced savings" in the U.S.is:

Commitment devices are:

In the arena of decision making,the choice that will automatically take place if the chooser fails to make an active decision is called the:

Choice architecture can: