Behavioural Economics

A cognitive bias for an individual to rely too heavily on an initial piece of information offered

• Loss Aversion
• Framing effect
• Anchoring
• Bandwagon effect
• Confirmation bias

Wallstreet Journal's subscription options on their official website is an example of:

• Confirmation bias
• Anchoring
• Framing effect
• Bandwagon effect
• Loss Aversion

A cognitive bias where people decide on options based on if the options are presented with positive or negative semantics is called as

• Framing effect
• Loss Aversion
• Confirmation bias
• Bandwagon effect
• Anchoring

According to Professor Richard Taller, which option is NOT among the three principles to follow when using a nudge

• Every nudge must be transparent, and never mislead the other.
• If you do not want to participate in nudge, you should be able to get out easily.
• If you do not want to participate in nudge, you should not be able to get out easily.
• There must be sufficient reason to believe that the behavior induced through the nudge makes the lives of those affected better.
• None of the above

When consumers feel like they’re missing out, they buy just to avoid being the loser

• Confirmation bias
• Bandwagon effect
• Framing effect
• Anchoring
• Loss Aversion

Behavioral Economics is a combination of :

• Behavior & Economics
• Psychological, social and emotional factors
• Psychological, emotional factors
• Psychological and social factors
• Behavior & Logical factors

Which technique can be used to ensure that maximum employees go fro health checks sponsored/discounted by the company ?

• Framing effect

• Confirmation bias

• Loss Aversion

• Bandwagon effect

Image is an example of which bias

• Loss Aversion

• Confirmation bias

• Framing effect

• Bandwagon effect