Decision making examples

Question 1

In economics and decision theory, absolute preferences refer to a situation where an individual’s preference for a good or service:

Answer 1

Is determined solely by its inherent qualities and is independent of other available options.

Question 2

The anterior insula, a region of the brain located deep within the lateral sulcus, is thought to play a significant role in:

Answer 2

Interoception (the sense of the internal state of the body), emotional awareness, and social cognition.

Question 3

Which of the following is a core set of behavioral symptoms commonly associated with Attention-Deficit/Hyperactivity Disorder (ADHD)?

Answer 3

Persistent patterns of inattention and/or hyperactivity-impulsivity that interfere with functioning or development.

Question 4

The axiom of revealed preferences in economics states that if a consumer chooses bundle A when bundle B is also affordable, then:

Answer 4

The consumer directly reveals a preference for bundle A over bundle B.

Question 5

Behavioral economics is a field that combines insights from psychology with economic theory to better understand:

Answer 5

How individuals make decisions that deviate from traditional assumptions of rationality.

Question 6

Cannabinoids are a diverse group of chemical compounds that primarily exert their effects in the body by interacting with:

Answer 6

Specific cannabinoid receptors (CB1 and CB2) in the endocannabinoid system.

Question 7

Conation in psychology refers to the mental faculty associated with:

Answer 7

Will, volition, and the conscious striving to carry out actions and achieve goals

Question 8

Corticostriatal loops are neural circuits that play a crucial role in:

Answer 8

The regulation of movement, planning of actions, motivation, and reward-based learning.

Question 9

Cortisol is a steroid hormone primarily produced by the:

Answer 9

Adrenal glands and released in response to stress.

Question 10

Delay discounting refers to the psychological phenomenon where the subjective value of a reward:

Answer 10

Decreases as the time to its receipt increases.

Question 11

The delay discounting curve typically illustrates which of the following relationships?

Answer 11

The decreasing subjective value of a reward as the delay to its receipt increases.

Question 12

The endowment effect is a cognitive bias where people tend to:

Answer 12

Value goods they own more highly than they would be willing to pay to acquire the same goods.

Question 13

Exteroceptive areas of the brain are primarily involved in processing information about:

Answer 13

Sensory stimuli originating from outside the body, such as sight, sound, and touch.

Question 14

The framing effect is a cognitive bias that demonstrates how:

Answer 14

The way information is presented or phrased can significantly influence people’s choices and judgments, even if the underlying information is the same.

Question 15

Intertemporal choice refers to decisions that involve:

Answer 15

Making choices where the costs and benefits occur at different points in time.

Question 16

The intuitive system (System 1) of thinking is best characterized as being:

Answer 16

Fast, automatic, and relying on heuristics and emotions.

Question 17

The lateral orbitofrontal cortex (lOFC) is a region of the brain primarily involved in:

Answer 17

Evaluating potential choices, particularly in the context of non-reward, punishment, and adapting behavior when expected outcomes change.

Question 18

Loop circuits in the brain, such as the corticothalamic loops, are characterized by:

Answer 18

A closed-loop architecture where information travels from one brain region to another and then back to the original region, often modulating activity.

Question 19

Loss aversion is a cognitive bias that describes the tendency for people to:

Answer 19

Feel the pain of a loss more strongly than the pleasure of an equivalent gain

Question 20

In genetics and biology, a loss-of-function mutation in a gene typically results in:

Answer 20

A reduction or complete absence of the normal function of the gene product (e.g., a protein).

Question 21

The medial orbitofrontal cortex (mOFC), a region of the brain, is thought to be particularly involved in:

Answer 21

Representing the subjective value of rewards and making choices based on potential positive outcomes.

Question 22

Neuroeconomics is an interdisciplinary field that primarily aims to understand economic decision-making by:

Answer 22

Studying the neural processes that underlie economic behavior using techniques from neuroscience, psychology, and economics.

Question 23

Which of the following is a primary mechanism of action for opioids in the central nervous system?

Answer 23

Mimicking the effects of endogenous endorphins by binding to opioid receptors.

Question 24

Parallel processing in the brain refers to the ability to:

Answer 24

Process multiple streams of information simultaneously.

Question 25

In decision theory, the point of indifference represents a situation where an individual:

Answer 25

Derives equal utility or satisfaction from two or more options.

Question 26

Primary rewards are best described as stimuli that:

Answer 26

Are inherently satisfying and do not require prior learning to be pleasurable or motivating.

Question 27

Prospect theory is a behavioral economic theory that primarily describes how individuals:

Answer 27

Evaluate potential gains and losses relative to a reference point, often leading to risk-averse behavior.

Question 28

Quasi-hyperbolic discounting is a model of temporal discounting characterized by:

Answer 28

A steeper rate of discounting for short delays compared to longer delays, leading to time-inconsistent preferences.

Question 29

The rational system (System 2) of thinking is best characterized as being:

Answer 29

Slow, deliberate, analytical, and requiring conscious effort.

Question 30

Relative preferences occur when an individual's liking for a good or service:

Answer 30

Depends on how it compares to other available options.

Question 31

An individual who is risk averse when making a decision under uncertainty is likely to:

Answer 31

refer a certain outcome over a gamble with the same or even slightly higher expected value.

Question 32

A risk discounting curve typically illustrates the relationship between:

Answer 32

he subjective value of an outcome and the probability of achieving that outcome

Question 33

An individual who is risk seeking when making a decision under uncertainty is likely to:

Answer 33

Prefer a gamble with a lower expected value but a higher potential payout over a certain outcome.

Question 34

Sequential processing in the brain refers to the ability to:

Answer 34

Process one piece of information at a time in a step-by-step manner.

Question 35

In a biological context, stress can be defined as:

Answer 35

A state of complete relaxation and absence of physiological arousal.

Question 36

Tetrahydrocannabinol (THC) is the primary psychoactive compound found in cannabis that exerts its effects by:

Answer 36

Binding to cannabinoid receptors in the brain and body.

Question 37

Tryptophan is an essential amino acid that serves as a precursor for the synthesis of:

Answer 37

Norepinephrine, a neurotransmitter involved in the stress response.

Question 38

The Ultimatum Game is an experimental paradigm commonly used in behavioral economics to study:

Answer 38

The role of fairness, cooperation, and social norms in economic decision-making.

Question 39

A Ulysses contract is a type of:

Answer 39

Pre-commitment device used to voluntarily restrict one's future choices to avoid temptation or self-control problems.

Question 40

The ventromedial prefrontal cortex (vmPFC) is a brain region thought to be particularly important for:

Answer 40

Integrating emotion and cognition in decision-making, as well as representing the subjective value of rewards and losses.