1.Which of the following is NOT one of the mantras prescribed the practitioner’s guide to nudging? (any one)
A. If you want people to do something, make it easy and fun
B. Always run between-participant experiments to ensure a test of causality
C. There can be no evidence based policy without evidence
D. Document your (experimental) results and share widely
2. Which of the following statements best describes the idea of a “consumption vocabulary.”(any one)
A. People who have a larger vocabulary consume more
B. Consumption of a vocabulary falls prey to the same decision principles as consumption in any other domain
C. Providing people with names for relevant attributes in a product category allows them to learn and articulate preferences, and to make better choices in the future
D. None of the above statements describe the idea of a consumption vocabulary.
3.The following paragraph is a description of which of the following terms? (any one)
Suppose a group of participants were given a large number of products to evaluate. The products are formed by fully crossing all the levels of relevant attributes (factors). The participants’ task is to evaluate each product on an overall liking score. Next, a regression equation is generated by using the liking score as a dependent variable and product attributes as the independent variables.
A. Analysis of variance
B. preference decomposition
C. case-based decision support system
D. choice architecture
4. Two choice architects Mr. X and Ms. Y are working on helping individuals who do not engage in retirement savings because they have trouble computing how much to set aside every month. Mr. X suggests the introduction of a program in which each potential participant is asked to choose between three dollar levels with the hope that they would choose the middle option. Ms. Y suggest a education program which provides participants with a simple decision rule and an aid to decide how much to set aside. Which of the following statement best describes the strategies recommended by X and Y?(any one)
A. Both X and Y are recommending a rebiasing strategy
B. X is recommending a debiasing strategy and Y is recommending a rebiasing strategy
C. X is recommending a rebiasing strategy and Y is recommending a debiasing strategy
D. Both X and Y are recommending a debiasing strategy
any one help me this please??
1. To determine which of the following options is NOT one of the mantras prescribed in the practitioner's guide to nudging, you would need to refer to the guide itself. The guide provides specific principles and mantras that practitioners should follow when implementing nudges. You can access the guide and review each mantra to identify the one that is not included.
2. To understand the idea of a "consumption vocabulary," you should consider the provided statements and determine which one best describes this concept. Option C states that providing people with names for relevant attributes in a product category allows them to learn and articulate preferences, and make better choices in the future. If this statement aligns with the concept of a consumption vocabulary as described or defined elsewhere, then option C would be the correct answer.
3. The provided paragraph describes a specific process or term related to the given information. To identify the correct term, you need to analyze the paragraph and determine the term that best matches the described process. In this case, the paragraph describes the creation of a regression equation using product attributes as independent variables and an overall liking score as the dependent variable. This process is commonly associated with preference decomposition, which involves analyzing and understanding the impact of different attributes on overall preferences. Therefore, option B, preference decomposition, would be the correct answer.
4. To understand the strategies recommended by choice architects Mr. X and Ms. Y, carefully examine their suggestions and compare them. Mr. X suggests introducing a program where participants choose between three dollar levels, with the hope of encouraging them to choose the middle option. On the other hand, Ms. Y proposes an education program that provides participants with a simple decision rule and an aid to determine how much to set aside. Based on these descriptions, it can be inferred that Mr. X's strategy aims to influence decision-making by using a nudge (in this case, the choice architecture of three dollar levels), while Ms. Y's strategy focuses on providing education and decision support. Therefore, option C, where X recommends a rebiasing strategy and Y recommends a debiasing strategy, seems to be the most accurate answer.