12 Questions
What is the theory behind the compromise effect?
Options tend to get chosen more often when they are the compromise option in a choice set or intermediate options in a choice set.
How does the default theory influence choices?
Default settings strongly steer choices, even when better alternatives are available.
What is the theory behind decision points?
The times a recurring decision is faced trigger off a cognitive process and a deliberative mode.
How does choice overload affect decision-making?
The presence of too many choices for a particular decision makes it difficult to evaluate and decide, leading to a costly cognitive process.
What is the concept of construal levels?
Events in the far future are thought of in terms of higher level benefits, while events in the near future are viewed in terms of concrete details and efforts involved.
What are the two types of strategies for influencing consumers' food choices?
Public policies and Commercial
What is the meaning of 'nudging' in the context of influencing consumers' food choices?
To alter people's behavior in a predictable way without forbidding any options or significantly changing their economic consequences.
According to Thaler and Sunstein, what is the key characteristic of a 'nudge'?
The intervention must be easy and cheap to avoid.
What effect does goal visibility have on people working on a goal-oriented task?
It increases their motivation and makes them work harder towards accomplishing the goal.
What is the sunk cost effect?
People who have prepaid for a consumption opportunity are driven to consume so that they can satisfactorily close their mental account without a loss, even if it involves a higher or extra cost.
How does payment depreciation affect the strength of the sunk cost effect?
The strength of the sunk cost effect decreases with time as the value of the past payment decreases.
According to the mixed evidence, what combination of nudges seems to influence healthier choices?
A combination of 'priming' and 'salience' nudges.
Test your knowledge on influencing consumers' food choices and the types of strategies used in food marketing and consumer behavior. Explore applications, public policies, and commercial strategies such as restrictions, monetary incentives, information and persuasion, and nudging.
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