Key Concepts in Altruism and Behavioral Economics
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Questions and Answers

What concept describes the motivation to help others without expecting anything in return?

  • Pure Altruism (correct)
  • Reciprocity
  • Generosity
  • Trust
  • Which game involves one player making a decision on how to allocate a sum of money knowing it will impact another player's payoff?

  • The Trust Game
  • The Dictator Game (correct)
  • The Beauty Contest Game
  • The Ultimatum Game
  • What model explains individuals' aversion to situations where they feel outcomes are unfair or unequal?

  • Fehr/Schmidt inequity aversion model (correct)
  • Cognitive Hierarchy Model
  • Cumulative Prospect Theory
  • Quasi-hyperbolic discounting model
  • Which bias describes the tendency for individuals to stick with the default option even if it's not the best choice?

    <p>Status Quo Bias</p> Signup and view all the answers

    In which game do participants anonymously make a decision about how much of an endowment to keep or give to another player?

    <p>Public Goods Game</p> Signup and view all the answers

    Which behavioral model describes individuals' preference for smaller, immediate rewards over larger, delayed rewards?

    <p>Quasi-hyperbolic discounting model</p> Signup and view all the answers

    In which type of game do participants decide how much to contribute towards a common pool of resources knowing that the total will be multiplied and split equally among all participants?

    <p>Public Goods Game</p> Signup and view all the answers

    What concept refers to the psychological phenomenon where individuals place more value on items they own than on identical items they do not own?

    <p>Endowment Effect</p> Signup and view all the answers

    Which theory suggests that individuals make decisions based on the potential gain or loss relative to a reference point, rather than their final wealth?

    <p>Prospect Theory</p> Signup and view all the answers

    What motivation involves individuals acting in a manner that aligns with societal expectations to gain social approval or avoid social disapproval?

    <p>Social Image Motivation</p> Signup and view all the answers

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