What Are the Two Categories of Cognitive Biases Identified by Behavioral

question 38

Multiple Choice

What are the two categories of cognitive biases identified by behavioral economists?

• A)unevolved capacity for solving modern problems and faulty heuristics
• B)bad information and lack of impulse control
• C)lack of intellect and mental disorders
• D)inability to reason and inability to delay gratification

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Definitions:

Sleeping and Eating

Basic physiological needs representing essential activities for maintaining health and survival, where sleep restores and rejuvenates the body and brain, and eating provides necessary nutrients.

Object Permanence

The knowledge that an object exists even when it is not in sight.

Piaget

A reference to Jean Piaget, a psychologist known for his work on child development and cognitive theory.

Conservation

In Piaget’s Theory the ability to understand that simply changing the appearance of an object does not change the object’s nature.