Exam 22: Behavioral Economics and Modern Economic Policy

Combining the idea of freedom from constraint with well-intentioned guidance leads to:

All markets:

One reason economists began to look at more effective coordination mechanisms is that they began to:

To resolve the problem of the negative effect of conspicuous consumption goods on society's welfare, an economist most likely would make the suggestion that:

Dating sites that match individuals such as Match.com and eHarmony.com are:

North Carolina's school choice program gives parents a bigger say over where their children go to school. To help with the choice, parents are mailed a sheet of paper listing the average of the math and reading scores for each school they could apply to. Providing this information is an example of a(n):

If an economist believes that choice architecture is important, he or she is more likely to be a:

The opportunity cost concept takes into account:

Restaurants will add high-price food items to the menu to lure diners to choose foods just below the high-price items. These items generally have the highest profit margin. This is an example of:

Advocates of nudge policy argue that these policies are libertarian because they:

If the government were to put policies in place to regulate carbon emissions from factories, such a policy would be a:

A deliberate design within the choice architecture that alters people's behavior in predictably positive ways is called an example of:

There is always a single market coordination mechanism in economic models.

Traditional models incorporate social and moral incentives into price.

Nudges can be used by:

Mechanism designers start by building models and then look for problems that their models can solve.

A traditional economist probably would not want to give up the assumption of consumer sovereignty because it:

On the forms to open a checking account, automatic bill paying is often the default option, with a box to check if one wants to opt out. This is an example of a:

Money prices are:

Suppose a company wanted to try to improve the health of its workers as part of its health initiative program. When constructing a new building, it decides to put the elevators significantly farther than the stairs from the main entrance. This would be considered as an example of a(n):