Podcast
Questions and Answers
What is the primary function of social norms in a group?
What is the primary function of social norms in a group?
- To create conflict among group members
- To guide individual behaviors based on collective expectations (correct)
- To limit personal freedom
- To promote deviant behavior
What is the term used to describe the tendency to assign subjective values to money in different accounts?
What is the term used to describe the tendency to assign subjective values to money in different accounts?
- Societal norms
- Cognitive bias
- Risk aversion
- Mental accounting (correct)
What is the term used to describe the phenomenon where people are more willing to take risks with 'found' money?
What is the term used to describe the phenomenon where people are more willing to take risks with 'found' money?
- Sunk cost fallacy
- Mental accounting
- House-money effect (correct)
- Disposition effect
What is the term used to describe the tendency to hold onto losing investments due to past investments rather than current rational assessment?
What is the term used to describe the tendency to hold onto losing investments due to past investments rather than current rational assessment?
What is the term used to describe the tendency to avoid realizing losses by holding onto losing stocks and quickly selling winning stocks?
What is the term used to describe the tendency to avoid realizing losses by holding onto losing stocks and quickly selling winning stocks?
What is the term used to describe the varying degrees of strictness in societal norms across cultures?
What is the term used to describe the varying degrees of strictness in societal norms across cultures?
Flashcards are hidden until you start studying
