The Extent to Which a Measure or Instrument Actually Measures

question 15

Short Answer

The extent to which a measure or instrument actually measures what it is theoretically supposed to measure is _______________.

Identify the commonality and uniqueness of stories across different organizations.

Understand the fundamental differences between neoclassical and behavioral economics.

Recognize how behavioral economics explains the influence of cognitive biases and heuristics on decision making.

Identify the factors affecting human decision making, including the impact of framing, temptation, and future versus present preferences.

---

Definitions:

Projective Tests

Psychological assessments that use ambiguous or unstructured test materials to elicit responses that reflect the respondent's personality traits, fears, and desires.

High-interest Credit Cards

Credit cards that charge high rates of interest compared to others, often leading to higher costs for borrowers who carry a balance.

Self-serving Bias

A common tendency to attribute one's successes to personal traits and failures to external factors, protecting self-esteem.

Reciprocal Determinism

The theory proposing that an individual's behavior is both influenced by and influences their personal factors and the environment.