Exam 22: Behavioral Economics and Modern Economic Policy

Shadow prices:

When online seller Amazon sets the default mail option as two-day mailing instead of the free-shipping option, it is employing:

Nudges are meant to:

To guide a person through complicated decisions such as whether to get a particular credit card, behavioral economists advocate electronic disclosure in which characteristics such as late fees and high interest rates would be explained clearly. They call this type of nudge a(n):

We call the situation in which the government makes a problem worse when it attempts to deal with it a(n):

Which of the following is an example of a nudge?

Google and Yahoo internet search engines are examples of:

To have shadow prices you have to have:

If everyone's utility function includes only conspicuous consumption goods:

Behavioral mechanism design economists face which of the following problems when solving policy issues?

If workers enroll in a savings plan and are asked to check a box to opt out of it, we are seeing an example of a nudge involving the:

Among economists, a basic economic policy debate regarding markets is:

When people make decisions in which they only mimic what they think other people are doing, they are engaging in:

If government requires a firm to implement a nudge, the government's action is not a nudge.

Traditional economics assumes that:

One way to raise the money price of throwing a bean-ball (a pitch aimed at the batter's head) is to:

Economists agree that:

What do markets with prices, dormitory lotteries, and first-come-first-served rules have in common?

Suppose the government passes laws that require restaurants to disclose the nutritional content of their menu items. This would be an example of a:

When the American League instituted designated batters (that is, pitchers were exempt from batting), the shadow prices of throwing bean-balls (a pitch aimed at the batter's head):