12 Questions
What is the primary rationale behind advocating for minimal interference in markets?
To ensure maximum personal freedom
When are nudges particularly useful in decision-making?
In complex, infrequent decisions with significant consequences
What is the primary purpose of understanding mappings and feedback in choice architecture?
To help individuals evaluate alternatives and provide immediate feedback
What do social preferences reflect, beyond traditional economic views?
Concern over the welfare of others alongside one's own
What is the primary difference between social and market exchanges?
Social exchanges follow different norms than market exchanges
What do distributional preferences consider in economic decisions?
Both personal and others' welfare
What is the primary purpose of conducting experiments in causal inference?
To distinguish causality from mere correlation
What is the role of randomization in experiments?
To create a counterfactual scenario
What is the purpose of unit of randomization?
To detect the desired impact of the intervention
What is the focus of internal validity in experiments?
Ensuring the study's conclusions are well-grounded and free from alternative explanations
What is the concept of libertarian paternalism?
A concept that influences choices by altering the context in which decisions are made
What is the difference between random assignment and random sample?
Random assignment ensures the treatment and control groups are statistically equivalent, while random sample ensures the sample is representative of the population
Learn about the purpose of experiments in establishing causality, the role of randomization in forming treatment and control groups, and the different types of randomization. Test your understanding of causal inference experiments!
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