Economics - Cognitive Biases MCQ Test 2

1. Which bias involves the tendency to believe that events are more predictable than they actually are?

2. Which bias involves the belief that events which have occurred in the recent past are more likely to happen again in the near future?

3. What is the tendency to give greater weight to information that is more recent?

4. What is the tendency to place more value on the immediate reward rather than a larger but delayed reward?

5. What is the term for the tendency to believe that one's own abilities or knowledge is greater than it actually is?

6. Which bias involves giving greater weight to recent events over earlier ones?

7. What is the term for the tendency to believe that if something is more expensive, it must be of higher quality or value?

8. Which bias involves the tendency to believe that one has superior qualities compared to others?

9. What cognitive bias involves the tendency to believe that one's own abilities or knowledge is greater than it actually is?

10. Which cognitive bias involves the tendency to believe that a small sample is representative of a larger population?

11. What is the term for the cognitive bias where individuals overestimate their own abilities or knowledge?

12. Which bias involves the tendency to assess the probability of an event based on how similar it is to a prototype in mind?

13. Which bias involves the tendency to undervalue or discount future rewards in favor of smaller immediate rewards?

14. What is the tendency to recall past events more positively than they may have actually been?

15. Which cognitive bias involves the tendency to make decisions based on the most recent information rather than all information?

16. What is the term for the tendency to believe that if a certain event occurs more frequently than normal during some period, it will happen less frequently in the future?

17. What is the term for the tendency to rely too heavily on the first piece of information encountered (the 'anchor') when making decisions?

18. Which cognitive bias involves giving more weight to information that is more readily available in memory?

19. Which bias involves the tendency to believe that if you like someone or something in one aspect, you are likely to like them in other aspects as well?

20. Which cognitive bias involves the tendency to believe that if something happens more frequently than normal during some period, it will happen less frequently in the future?

21. Which bias involves placing greater importance on the first information received (the 'anchor') when making decisions, even if the information is irrelevant?

22. What is the term for the tendency to attribute others' behaviors to their inherent characteristics (such as personality or disposition) while attributing one's own behaviors to situational factors?

23. Which bias involves the tendency to rely too heavily on the first piece of information encountered when making decisions?

24. What is the term for the cognitive bias where individuals believe they have more control over outcomes than they actually do?

25. What is the tendency to place more value on items that are perceived as rare or in limited supply?

26. What cognitive bias involves the belief that if something happens more frequently than normal during some period, it will happen less frequently in the future (or vice versa)?

27. What is the term for the cognitive bias where individuals give more value to things merely because they own them?

28. What is the tendency to remember past events as having been better than they actually were?

29. Which bias involves the tendency to underestimate the time, costs, and risks of future actions while overestimating the benefits and rewards?

30. Which cognitive bias involves the tendency to remember past events as having been better than they actually were?

31. What cognitive bias involves the tendency to perceive a relationship between two unrelated events, or to perceive patterns in random data?

32. Which bias involves the tendency to judge a situation based on how similar it is to a prototype in memory?

33. Which bias involves the tendency to make decisions based on how similar an option is to a prototype in mind?

34. Which cognitive bias refers to the tendency to seek out or interpret information in a way that confirms one's preexisting beliefs?

35. Which cognitive bias involves the tendency to place undue emphasis on the first information received (the 'anchor') when making decisions?

36. Which bias involves the belief that if a small sample is representative of a larger population, even when statistical evidence suggests otherwise?

37. Which cognitive bias involves the tendency to overvalue things that are familiar or known?

38. What cognitive bias refers to the tendency for people to favor information that confirms their pre-existing beliefs or values?

39. What is the tendency to place a higher value on items merely because they are perceived as scarce?

40. What cognitive bias involves the tendency to judge events as more extreme than they actually are, often attributing them to a greater cause or significance?