1st Exercise, The Behavioral Economics of Global Affairs (2021:1), Luiz Maia

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1-The main goal of Behavioral Economics (B.E.), as a subdiscipline of Economics, is to gather and expose the vast number of limitations of most conventional microeconomics models.

True

False

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2-Amos Tversky and Daniel Kahneman published a number of papers that appeared to undermine ideas about human nature held by mainstream economics.

True

False

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3-Global Issues, such as immunization, famine, discrimination and immigration, have only recently been studied from a Behavioral Economics perspective, and policy makers have a long way to go in exploring the whole potential of new analytical tools.

True

False

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4-Emphasis on Consequentialism or Appropriateness distinguishes some views on decision making, from conventional Economics and B.E. perspectives – respectively.

True

False

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5-According to Herbert Simon’s work on ‘Bounded Rationality’, our minds must be understood relative to the environment in which they evolved.

True

False

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6-From a B.E. perspective, dishonesty is the product of situations (contexts) as well as both internal and external reward mechanisms, which often involves self-deception.

True

False

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7-As an example of cognitive bias, in the so called Planning Fallacy current events are weighted more heavily than future ones, with huge impacts on savings, and financial stability.

True

False

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8-Describe Kahneman´s Dual System Model. Illustrate your answer with a couple of examples or behaviors.

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