Behavioral Economists

question 44

Multiple Choice

Behavioral economists

• A) Rely primarily on data drawn from the real world
• B) Rely primarily on experimental data
• C) Avoid mathematical models of behavior, as they do not adequately describe real world actions
• D) Rely only on experimental data

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.