Social Science

Cognitive Biases and Decision Making

1,902 Questions

Explore a curated set of questions on cognitive biases, decision making, and behavioral economics. These concepts evaluate how social norms, emotions, and heuristics influence human judgment and group behavior. Master these topics to build a strong foundation for psychology and social science exams.

Behavioral economicsSocial group influencesEmotional decision makingConfirmation bias

Cognitive Biases and Decision Making Questions

Multiple choice

Which of the following is an example of a psychological factor that can affect economic decision-making?

  1. Emotions

  2. Cognitive biases

  3. Social norms

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Emotions, cognitive biases, and social norms are all psychological factors that can influence economic decision-making.

Multiple choice

Which psychological concept suggests that individuals tend to overvalue items they already possess?

  1. Sunk cost fallacy

  2. Framing effects

  3. Endowment effect

  4. Anchoring bias
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The endowment effect refers to the tendency for individuals to place a higher value on items they own compared to identical items they do not own.

Multiple choice

The concept of framing effects highlights the influence of:

  1. Emotions on economic decision-making

  2. Cognitive biases on economic behavior

  3. Social norms on economic choices

  4. The way information is presented on economic decisions
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Framing effects demonstrate how the way information is presented can influence economic decision-making.

Multiple choice

Which psychological factor has been found to affect individuals' willingness to pay for goods and services?

  1. Loss aversion

  2. Cognitive dissonance

  3. Framing effects

  4. Anchoring bias
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Loss aversion suggests that individuals are more sensitive to losses compared to gains, which can influence their willingness to pay.

Multiple choice

Which psychological concept suggests that individuals tend to rely on a single piece of information when making economic decisions?

  1. Cognitive dissonance

  2. Framing effects

  3. Anchoring bias

  4. Endowment effect
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Anchoring bias refers to the tendency for individuals to rely heavily on the first piece of information they receive when making economic decisions.

Multiple choice

The concept of cognitive dissonance suggests that individuals:

  1. Are always consistent in their beliefs and behaviors

  2. Are always inconsistent in their beliefs and behaviors

  3. Experience psychological discomfort when their beliefs and behaviors are inconsistent

  4. Are indifferent to inconsistencies between their beliefs and behaviors
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Cognitive dissonance theory proposes that individuals experience psychological discomfort when their beliefs and behaviors are inconsistent, motivating them to reduce this discomfort.

Multiple choice

Which psychological factor has been found to influence individuals' perception of risk and uncertainty?

  1. Emotions

  2. Cognitive biases

  3. Social norms

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Emotions, cognitive biases, and social norms can all influence individuals' perception of risk and uncertainty.

Multiple choice

What is the term used to describe the tendency of the media to focus on negative or sensational news, often at the expense of more positive or balanced reporting?

  1. Negativity bias

  2. Sensationalism

  3. Yellow journalism

  4. Tabloid journalism
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Negativity bias refers to the media's tendency to prioritize negative or sensational news stories, which can have a significant impact on public perception and attitudes.

Multiple choice

What is the term for the tendency to focus on information that is consistent with our existing beliefs and expectations?

  1. Confirmation bias

  2. Disconfirmation bias

  3. Attentional bias

  4. Perceptual bias
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Confirmation bias is the tendency to focus on information that is consistent with our existing beliefs and expectations.

Multiple choice

What is the term for the tendency to focus on information that is emotionally salient?

  1. Emotional attentional bias

  2. Attentional bias

  3. Perceptual bias

  4. Cognitive bias
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Emotional attentional bias is the tendency to focus on information that is emotionally salient.

Multiple choice

What is the term for the ability to ignore irrelevant information and focus on relevant information?

  1. Selective attention

  2. Divided attention

  3. Sustained attention

  4. Alternating attention
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Selective attention is the ability to ignore irrelevant information and focus on relevant information.

Multiple choice

Which of the following is an example of a cognitive bias?

  1. Confirmation bias

  2. Hindsight bias

  3. Framing effect

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Cognitive biases are systematic errors in thinking that occur when people make judgments and decisions.

Multiple choice

What is the term for the tendency to attribute success to internal factors and failures to external factors?

  1. Self-Serving Bias

  2. Fundamental Attribution Error

  3. Actor-Observer Bias

  4. Illusion of Control
Reveal answer Fill a bubble to check yourself
Correct answer
Explanation

Self-Serving Bias refers to the tendency for individuals to attribute their successes to internal factors (e.g., skill, effort) and their failures to external factors (e.g., bad luck, unfair officiating).

Multiple choice

What is the term for the tendency to attribute success to internal factors and failures to external factors?

  1. Self-Serving Bias

  2. Fundamental Attribution Error

  3. Actor-Observer Bias

  4. Illusion of Control
Reveal answer Fill a bubble to check yourself
Correct answer
Explanation

Self-Serving Bias refers to the tendency for individuals to attribute their successes to internal factors (e.g., skill, effort) and their failures to external factors (e.g., bad luck, unfair officiating).

Multiple choice

What is the term for the tendency for individuals to overestimate the likelihood of experiencing a negative health event?

  1. Health anxiety

  2. Hypochondriasis

  3. Illness phobia

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Health anxiety, hypochondriasis, and illness phobia are all terms for the tendency for individuals to overestimate the likelihood of experiencing a negative health event.