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1. What is the main focus of behavioral finance?

2. What is a heuristic?

3. Who coined the term 'bounded rationality'?

4. What is 'bounded willpower'?

5. Which theory suggests that individuals make decisions based on the potential value of losses and gains rather than final outcomes?

6. What does the 'availability heuristic' involve?

7. What is the primary focus of behavioral economics?

8. Which concept involves making choices based on potential gains and losses rather than final outcomes?

9. What does the 'Dunning-Kruger effect' refer to in economics?

10. Which of the following is a limitation of rational choice theory?

11. Who developed the concept of bounded rationality?

12. Which concept involves the idea that 'more is better'?

13. In the context of economics, what does 'satisficing' refer to?

14. Which theory suggests that people rely on heuristics to make decisions?

15. Which behavioral economics principle involves the tendency to rely on immediate rewards, even if they result in greater costs in the future?

16. What is the 'status quo bias'?

17. Which of the following is a 'giffen good'?

18. Which economist introduced the concept of 'bounded rationality' in the context of economic decision making?

19. Which economist first proposed the concept of bounded rationality?

20. What does the 'law of diminishing returns' suggest?

21. Which cognitive bias involves relying heavily on the first piece of information encountered?

22. What characterizes bounded rationality in economic decision-making?

23. Which cognitive bias is associated with overestimating one's abilities or knowledge?

24. How does incomplete information influence decision-making under bounded rationality?

25. Which of the following is an example of a cognitive bias?

26. Who introduced the concept of bounded rationality?

27. In behavioral economics, what is the 'endowment effect'?

28. Which economic theory emphasizes the importance of 'irrational' behavior in economic decisions?

29. What does 'disutility' refer to?

30. Which of the following is a consequence of bounded rationality?

31. Which behavioral economics principle suggests that individuals overvalue small probabilities and undervalue large probabilities?

32. Which cognitive bias involves the overestimation of one's own abilities or knowledge?

33. What is the main difference between traditional economics and behavioral economics?

34. Which theory challenges the traditional assumptions of rational choice theory?

35. Which behavioral economics principle involves the tendency to overestimate one's own abilities or knowledge?

36. Which theory suggests that individuals evaluate potential outcomes based on the perceived gains and losses relative to a reference point?

37. How does the concept of 'heuristics' relate to bounded rationality?

38. What is the 'endowment effect'?

39. What does the 'status quo bias' refer to?

40. What is 'Tulip Mania'?

41. What does the concept of 'bounded rationality' imply about human decision making?

42. Which cognitive bias refers to the tendency to rely heavily on the first piece of information encountered?

43. What does the 'Laffer Curve' represent?

44. What does the 'endowment effect' suggest?

45. What does the 'law of diminishing returns' state?

46. Which cognitive bias is characterized by placing greater importance on the most recent information?

47. What does the Allais paradox illustrate?

48. What is 'Pareto efficiency'?

49. Which theory suggests that individuals often rely on heuristics when making decisions?

50. How does bounded rationality differ from perfect rationality?