When People Attempt to Solve a Problem Involving Numbers They

question 10

Multiple Choice

When people attempt to solve a problem involving numbers they may find themselves using another number called ____________ to keep their response within a limited range.

• A) an anchor
• B) an initial state
• C) a representativeness value
• D) an operator

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Definitions:

Nudge

A concept in behavioral economics suggesting a way to influence people's behavior and decision making subtly without limiting their choices.

Hedonic Treadmill

A theory suggesting that people continually seek higher levels of wealth, status, or possessions but do not achieve lasting increases in happiness.

Prospect Theory

A theory in behavioral economics that explores how individuals make decisions between options involving risk with uncertain outcome probabilities.

Behavioral Insights Team

A group of experts, often in government or organizations, applying behavioral science principles to design policies or interventions that improve public services and policy outcomes.