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1. How does bounded rationality differ from perfect rationality?

2. What does the 'endowment effect' suggest?

3. What does the Allais paradox illustrate?

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

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

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

7. Who introduced the concept of bounded rationality?

8. What does the term 'satisficing' mean?

9. What is 'Tulip Mania'?

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

11. What is 'bounded willpower'?

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

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

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

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

16. What is the primary goal of economic policy?

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

18. What does the 'availability heuristic' involve?

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

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

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

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

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

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

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

26. What is the primary focus of behavioral economics?

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

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

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

30. What is 'Pareto efficiency'?