In the Coming Terms, You Will

question 9

Multiple Choice

In the coming terms, you will:

• A) stop setting ambitious goals for yourself.
• B) no longer work in groups with other students.
• C) learn to hold others responsible for your mistakes.
• D) gain more insight into your academic and career interests.

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Definitions:

Behavioral Economists

Study the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions and how those decisions vary from those implied by classical economic theory.

Dictator Game

An experimental game in economics where one player, the "dictator," determines how to split a sum of money between themselves and another player.

Fair Trade

A movement aimed at supporting producers in developing countries to achieve better trading conditions and promoting sustainable farming and production practices.

Ultimatum Game

The Ultimatum Game is an experimental economics game in which two players decide how to divide a sum of money, with one player making an offer and the other choosing to accept or reject it.