Question 1

Which emotion may decrease the endowment effect,causing an owner of a good to lower his or her selling price?

Accepted Answer

A) Anger. 
B) Disgust. 
C) Happiness. 
D) Fear. 
A) Anger. 
B) Disgust. 
C) Happiness. 
D) Fear. B

Question 2

Relative to the present time period,people tend to view all gains and losses in the future to be worth less than they would be in the present.

Accepted Answer

A) True 
 B)False  True

Question 3

Describe one proposed approach to dealing with the conflict between the "want" self and the "should" self.

Accepted Answer

Schelling and Thaler propose that the "should" self develop advance schemes to corral,co-opt,or control the "want" self.For example,make inflexible pre-commitments. Thaler and Shefrin propose that the "should" self search for ways to bring the interests of the two selves into alignment. Raiffa proposed to acknowledge this conflict as an error in judgment made by one of the selves,and to question each self to find out which of them is making the error. The authors recommend to develop a rational negotiation strategy for dealing with the "want" self,and to give the "want" self more voice in the negotiation,in order to increase the likelihood of compliance with what will be decided.

Question 4

Which of the following helps promote more rational decision making?

Accepted Answer

A) Standards of comparison 
B) Focus on salient attributes 
C) The "multiple-selves" approach 
D) Positive,rather than negative affect 
A) Standards of comparison 
B) Focus on salient attributes 
C) The "multiple-selves" approach 
D) Positive,rather than negative affect

Question 5

What explanation was given to the fact that silver-medal winners often appear less happy with their achievement than bronze-medal winners?

Accepted Answer

people display counterfactual

Question 6

Self-serving reasoning causes people to pay less critical attention when assessing:

Accepted Answer

A) Favorable information. 
B) Ambiguous information. 
C) Probabilities. 
D) Threatening information to their sense of self. 
A) Favorable information. 
B) Ambiguous information. 
C) Probabilities. 
D) Threatening information to their sense of self.

Question 7

According to the "multiple-selves" theory,if an online DVD rental service could offer same-day deliveries,so that people who order a movie receive it the same day,what change is likely to happen to the rental profile?

Accepted Answer

A) More documentaries and art films will be rented and less comedies and action movies. 
B) More comedies and action movies will be rented and less documentaries and art films. 
C) More documentaries and art films will be rented,but less will actually be watched. 
D) More comedies and action movies will be rented,but less will actually be watched. 
A) More documentaries and art films will be rented and less comedies and action movies. 
B) More comedies and action movies will be rented and less documentaries and art films. 
C) More documentaries and art films will be rented,but less will actually be watched. 
D) More comedies and action movies will be rented,but less will actually be watched.

Question 8

Sadness has been found to focus one's attention to _______________.

Accepted Answer

The answer of Sadness has been found to focus one's...

Question 9

How do the two selves in the "multiple-selves" theory interact in evaluations of an option that bears short-term gratification and long-term costs?

Accepted Answer

if the option of a short-term reward tha

Question 10

__________ is a negative emotion that shares many features with happiness,such as increased confidence and decreased sensitivity to risk.

Accepted Answer

The answer of __________ is a negative emotion that shares...

Question 11

Cognitive neuroscience research has refuted the "multiple-selves" theory,finding that both short-term and long-term gratifications activate the same regions in the brain.

Accepted Answer

A) True 
 B)False

Question 12

A rational decision maker would discount the future using ___________ discounting.

Accepted Answer

The answer of A rational decision maker would discount the...

Question 13

According to the Multiple-Selves theory,what is the subject of disagreement between the two "selves"?

Accepted Answer

one of the "selves" is in favo

Question 14

A senator wants to pass a bill to implement a substantial increase in the tax on gasoline.Which feature is most likely to help the bill's chances of being passed?

Accepted Answer

A) To frame the bill in terms of potential gains,instead of potential losses. 
B) To emphasize that people today do not do enough to reduce gas consumption,so as to tap other senator's self-worth. 
C) To propose that the bill would come into effect in the future,not immediately. 
D) To emphasize the fairness of the bill,so as to tap other's senators fairness perceptions. 
A) To frame the bill in terms of potential gains,instead of potential losses. 
B) To emphasize that people today do not do enough to reduce gas consumption,so as to tap other senator's self-worth. 
C) To propose that the bill would come into effect in the future,not immediately. 
D) To emphasize the fairness of the bill,so as to tap other's senators fairness perceptions.

Question 15

What are the three criteria on negotiating between the "want" self and the "should" self?

Accepted Answer

first,the two sides must reach an agreem

Question 16

People's assessments of fair allocation of resources are influenced primarily by the importance of attributes affecting what is fair.

Accepted Answer

A) True 
 B)False

Which emotion may decrease the endowment effect,causing an owner of a good to lower his or her selling price?

Relative to the present time period,people tend to view all gains and losses in the future to be worth less than they would be in the present.

Describe one proposed approach to dealing with the conflict between the "want" self and the "should" self.

Which of the following helps promote more rational decision making?

What explanation was given to the fact that silver-medal winners often appear less happy with their achievement than bronze-medal winners?

Self-serving reasoning causes people to pay less critical attention when assessing:

According to the "multiple-selves" theory,if an online DVD rental service could offer same-day deliveries,so that people who order a movie receive it the same day,what change is likely to happen to the rental profile?

Sadness has been found to focus one's attention to _______________.

How do the two selves in the "multiple-selves" theory interact in evaluations of an option that bears short-term gratification and long-term costs?

__________ is a negative emotion that shares many features with happiness,such as increased confidence and decreased sensitivity to risk.

Cognitive neuroscience research has refuted the "multiple-selves" theory,finding that both short-term and long-term gratifications activate the same regions in the brain.

A rational decision maker would discount the future using ___________ discounting.

According to the Multiple-Selves theory,what is the subject of disagreement between the two "selves"?

A senator wants to pass a bill to implement a substantial increase in the tax on gasoline.Which feature is most likely to help the bill's chances of being passed?

What are the three criteria on negotiating between the "want" self and the "should" self?

People's assessments of fair allocation of resources are influenced primarily by the importance of attributes affecting what is fair.

Introduction to Managerial Decision Making

Overconfidence

Common Biases

Bounded Awareness

Framing and the Reversal of Preferences

The Escalation of Commitment

Fairness and Ethics in Decision Making

Common Investment Mistakes

Making Rational Decisions in Negotiations

Negotiator Cognition

Improving Decision Making

Filters

Exam 6: Motivational and Emotional Influences on Decision Making

Which emotion may decrease the endowment effect,causing an owner of a good to lower his or her selling price?

Relative to the present time period,people tend to view all gains and losses in the future to be worth less than they would be in the present.

Describe one proposed approach to dealing with the conflict between the "want" self and the "should" self.

Which of the following helps promote more rational decision making?

What explanation was given to the fact that silver-medal winners often appear less happy with their achievement than bronze-medal winners?

Self-serving reasoning causes people to pay less critical attention when assessing:

According to the "multiple-selves" theory,if an online DVD rental service could offer same-day deliveries,so that people who order a movie receive it the same day,what change is likely to happen to the rental profile?

Sadness has been found to focus one's attention to _______________.

How do the two selves in the "multiple-selves" theory interact in evaluations of an option that bears short-term gratification and long-term costs?

__________ is a negative emotion that shares many features with happiness,such as increased confidence and decreased sensitivity to risk.

Cognitive neuroscience research has refuted the "multiple-selves" theory,finding that both short-term and long-term gratifications activate the same regions in the brain.

A rational decision maker would discount the future using ___________ discounting.

According to the Multiple-Selves theory,what is the subject of disagreement between the two "selves"?

A senator wants to pass a bill to implement a substantial increase in the tax on gasoline.Which feature is most likely to help the bill's chances of being passed?

What are the three criteria on negotiating between the "want" self and the "should" self?

People's assessments of fair allocation of resources are influenced primarily by the importance of attributes affecting what is fair.

Introduction to Managerial Decision Making

Overconfidence

Common Biases

Bounded Awareness

Framing and the Reversal of Preferences

The Escalation of Commitment

Fairness and Ethics in Decision Making

Common Investment Mistakes

Making Rational Decisions in Negotiations

Negotiator Cognition

Improving Decision Making

Filters