The Processes of Perception and Judgment with Which We Make

question 29

Multiple Choice

The processes of perception and judgment with which we make sense of our social world are known as:

• A) social cognition.
• B) nonverbal understanding.
• C) social work.
• D) expectancy theory.

Understand the concept of discovered preferences and their impact on economic decision-making.

Recognize the limitations of rational choice theory in explaining consumer behavior.

Identify and explain various cognitive biases and heuristics that influence economic decision-making, such as the anchoring effect and hyperbolic discounting.

Understand the effect of framing on decision-making and choice.