1/A political poll wants to influence voters toward the governor Joe Politician.

Question

1/A political poll wants to influence voters toward the governor Joe Politician. In his past term, Joe was successful at increasing jobs and income. In what order should these questions be asked to prime the voters?

I. Are you happier today compared to a year ago?

II. Have you noticed an increase in your income in the past two years?

III. Has Joe Politician done a good job as your governor?

a/I, II,III

b/II, I, III

c/III, I, II

d/ II, III, I

2/ You are normally a risk-averse person. However, you need some extra money this month to make ends meet. You decide to play the Powerball lottery. Economists would say that you have had a a/change of heart. b/preference reversal. c/risk reversal. d/ change in risk tolerance.

14/ Annie is excited about a $500 income tax return and is already contemplating which shoes to purchase. Annie is exhibiting

a/ strongly positive time preferences and preference reversal.

b/strongly positive time preferences and prospect theory.

c/weakly positive time preferences and preference reversal.

d/ weakly positive time preferences and prospect theory

Bounded rationality can be understood through
I. limited information
II. limited brain processing capability
III. long decision-making times
IV. short decision-making times

Explanation / Answer

Order should be general question then little deeper and then more with statistics.

Order of first question will be.i,iii,ii

2) Annie has strongly positive time preference and prospect theory. Because here he already take decision on the value of lottery with out thinking of expected outcome.

3)i,ii and iv. Because bounded rationaly means an individuals decision which he has to take with lack of information lack of decision making capability and with short time span.

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