Name

Year and Section

• 2B
• 2C
• 2E

1. It is the study of how decisions are made by individuals and within groups.

2. A type of decision theory that focuses on how decisions should be made logically and rationally

3. In this theory, "Losses hurt more than gains feel good”

4. It occurs when people react differently to something depending on whether it is presented

5. A type of decision theory that examines how decisions are actually made in practice, including the psychological and behavioral aspects that influence decision-making.

6. It is a decision-making tool used by economic agents to analyze situations when the outcomes of decisions are uncertain.

7. It is a concept that describes the degree to which market prices reflect all available and relevant information.

8. In the classic Prisoner's Dilemma scenario, two individuals are arrested and charged with a crime (Sheila and Alice). If Sheila betrays, while Alice remains silent (cooperates), what type of sentence will Sheila receive?

• Light Sentence
• Harsh Sentence
• Sheila will be free