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1. What is 'Tulip Mania'?

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

3. What is the 'status quo bias'?

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

5. What is 'Pareto efficiency'?

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

7. What is the 'Ultimatum Game' in behavioral economics?

8. Who developed the concept of bounded rationality?

9. What role do cognitive biases play in the context of bounded rationality?

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

11. What is bounded rationality?

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

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

14. What does the 'framing effect' refer to?

15. Which economist is known for the concept of 'bounded rationality'?

16. Who coined the term 'bounded rationality'?

17. What distinguishes bounded rationality from perfect rationality in economic decision-making?

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

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

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

21. What is the primary focus of behavioral economics?

22. Which of the following is NOT a characteristic of bounded rationality?

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

24. What is a heuristic?

25. What does 'disutility' refer to?

26. What does 'bounded willpower' refer to?

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

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

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

30. What does the 'endowment effect' suggest?

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

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

33. What does the 'Laffer Curve' represent?

34. What does the Allais paradox illustrate?

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

36. What does 'satisficing' refer to in the context of bounded rationality?

37. What is the primary goal of economic policy?

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

39. Which of the following is NOT a cognitive bias?

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