Decision Boss: Round 1 Question Preview (ID: 57553)


Let's Knock Out The Decision Boss In This First Round! TEACHERS: click here for quick copy question ID numbers.

The _______ ______ views consumers as rational humans who constantly try to maximize their well-being. Consequently, the model proposes that consumers make decisions based on the expected outcomes of their decisions.
a) Utility model
b) Unity model
c) Satisficing model
d) Satistying model

_________ effect refers to when people put higher values on things they own.
a) Endowment
b) Endownment
c) Prospect theory
d) Prospective theory

________ ______ suggests that costs and benefits are valued differently. If there are two options, the one presented in terms of possible benefits will be chosen over the one presented in terms of possible losses.
a) Prospect theory
b) Prospective theory
c) Involvement theory
d) Involving theory

Which of the following is NOT a non-compensatory strategy?
a) Frequency of good and bad features
b) Lexicographic
c) Satisficing
d) Elimination by aspects

Which of the following is NOT a heuristic?
a) confirmatory
b) availability
c) representativeness
d) anchoring

_________ refers to the tendency to rely on the first piece of information that is provided to you; when estimates are based on initial values or certain starting points
a) anchoring bias
b) confirmation bias
c) availability heuristic
d) representativeness heuristic

_______ __ __ reported five experiments to show how a simple anchoring process can influence consumer decisions at point of purchase.
a) Wansink et al
b) Hall et al
c) Braun-LaTour et al
d) Knutson et al

Which of the following is NOT relevant to Braun-LaTour et al?
a) MCU
b) Bugs Bunny
c) Mickey Mouse
d) Disney

Which of the following is NOT relevant to Hall et al?
a) college students
b) jam and tea
c) Sweden
d) supermarket

Which of the followign is NOT relevant to Knutson et al?
a) NACP
b) insula
c) NAcc
d) MPFC

The utility model does NOT suggest that ...
a) Consumers typically try to get sufficient results and that's it.
b) Consumers make decisions based on the expected outcomes of their decisions.
c) Consumers are viewed as rational humans.
d) Consumers typically try to maximize their well-being.

Which of the following is NOT true about the satisficing model?
a) One consequence of this model is that consumers tend to obsess over other options.
b) It proposes that consumers often accept good enough.
c) It proposes that consumers tend to be happier with outcomes.
d) It is a combination of satisfy and suffice.

... refer to when consumers allow a higher value of one attribute of a purchase to compensate for a lesser value.
a) Compensatory strategies
b) Non-compensatory strategies
c) Partially compensatory strategies
d) Compensation strategies

... suggests that a person typically creates a shortlist of items to choose from when making his/her decision, based on his experience, preferences, and familiarity with the products.
a) Consideration theory
b) Involvement theory
c) Lexigraphic
d) Elimination by aspects

... suggests how much cognitive effort we use would depend on how important that decision is to us.
a) Involvement theory
b) Majority of conforming dimensions
c) Frequency of good and bad features
d) All of the answer choices

What is a common use of heuristics?
a) All of the answer choices
b) Reduce mental effort when making decisions
c) Simplify complex and difficult questions
d) Help with fast and effective problem solving

... occurs when we deem something as important just because it has our attention.
a) Availability heuristic
b) Representativeness heuristic
c) Anchoring bias
d) Confirmation bias

Which of the following is NOT a keyword/phase from Wansink et al?
a) pre-cognitive decisions
b) multiple-unit pricing
c) purchase-quantity limits
d) selling anchors

Which of the following is NOT a keyword/phrase from Knutson et al?
a) emotional intensity
b) neural predictors of purchases
c) NAcc, MPFC, insula
d) pre-cognitive decisions

System 1 ... whereas System 2 ...
a) All of the answer choices
b) ... involves fast thinking ... involves slow thinking
c) ... uses associations ... is conscious and effortful
d) ... usually wins in decision making ... rarely gets turned on

Play Games with the Questions above at ReviewGameZone.com
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 57553 in the upper right hand corner or click here.

TEACHERS / EDUCATORS
Log In | Sign Up / Register

Help / Support / FAQ




Gaming Links