Podcast
Questions and Answers
What is the primary rationale behind advocating for minimal interference in markets?
What is the primary rationale behind advocating for minimal interference in markets?
- To enable policymakers to correct market failures
- To maintain social norms in market exchanges
- To ensure maximum personal freedom (correct)
- To address self-control issues in decision-making
When are nudges particularly useful in decision-making?
When are nudges particularly useful in decision-making?
- When feedback on decisions is immediate and abundant
- In frequent, everyday choices
- In complex, infrequent decisions with significant consequences (correct)
- When individuals prioritize their own self-interest
What is the primary purpose of understanding mappings and feedback in choice architecture?
What is the primary purpose of understanding mappings and feedback in choice architecture?
- To simplify decision-making processes
- To minimize the negative impact of user mistakes
- To help individuals evaluate alternatives and provide immediate feedback (correct)
- To align incentives with desired outcomes
What do social preferences reflect, beyond traditional economic views?
What do social preferences reflect, beyond traditional economic views?
What is the primary difference between social and market exchanges?
What is the primary difference between social and market exchanges?
What do distributional preferences consider in economic decisions?
What do distributional preferences consider in economic decisions?
What is the primary purpose of conducting experiments in causal inference?
What is the primary purpose of conducting experiments in causal inference?
What is the role of randomization in experiments?
What is the role of randomization in experiments?
What is the purpose of unit of randomization?
What is the purpose of unit of randomization?
What is the focus of internal validity in experiments?
What is the focus of internal validity in experiments?
What is the concept of libertarian paternalism?
What is the concept of libertarian paternalism?
What is the difference between random assignment and random sample?
What is the difference between random assignment and random sample?
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