Introduction to Behavioral Economics Quiz

What is the primary focus of the initial discussion in the video?

• The influence of psychology on decision-making

• The history of shopping malls

• The role of fashion in consumer choices

• The economic impact of electronics

What significant contribution did Richard Thaler make to the field of economics?

• He focused on the production and distribution of goods

• He combined psychology with economics to study decision-making

• He introduced the concept of rational decision-making

• He developed a new economic model

Which theory suggests that too many options can hinder decision-making?

• Nudge Theory

• Choice Overload

• Friction Costs

• Social Proof

How does nudge theory propose to influence behavior?

• By encouraging positive choices

• By imposing penalties

• By providing financial incentives

• By limiting choices

What is the concept of social proof based on?

• The role of government regulations in decision-making

• The impact of financial incentives on behavior

• The idea that people make decisions independently

• The influence of widely accepted public decisions