Research on Decision-Making Indicates That Participants

question 13

Multiple Choice

Research on decision-making indicates that participants:

• A) consistently seek to maximize their expected value of utility
• B) make choices guided by a strong tendency toward consistency with previous choices
• C) show inconsistencies in their choices that follow no systematic pattern
• D) are heavily influenced by minor changes in a problem's wording

---

Definitions:

Forum Selection Agreement

A contractual clause in which the parties choose the location where disputes between them will be resolved.

UCC

Denotes the Uniform Commercial Code, an extensive series of statutes that regulate every commercial transaction across the United States.

CISG

The United Nations Convention on Contracts for the International Sale of Goods, a treaty that provides a uniform set of rules for the international sale of goods.

General Personal Jurisdiction

The authority of a court to hear any case brought against a defendant based on their overall activities within the jurisdiction, not just those related to the specific legal action.