1) Making decisions based on "gut feelings" is called

heuristics.

maximizing.

intuition.

satisficing.

bounded rationality.

2) If we indeed "stop all the thinking," what is likely to influence our choice of alternatives?

emotions

subjective expected utility

rationality

satisficing

cost-benefit analysis

3) Rather than making perfectly rational decisions, people tend to make "good enough" decisions. This is called

heuristics.

intuition.

subjective expected utility.

maximizing.

satisficing.

4) The results of this research provide strong evidence of how often people do not maximize their _______ when making decisions.

satisficing

availability heuristic

subjective expected utility

intuition

bounded rationality

5) The fact that we have limited ability to process vast amounts of information reflects which view of decision making?

rational choice paradigm

stakeholder framing

implicit favorite

anchoring and adjustment

bounded rationality

6) The jam experiments show that when faced with too many choices, people often

make no decision.

use rational logic.

maximize the choice utility.

choose multiple alternatives.

listen to their emotions.

7) Thinking about using smaller plates or freezing credit cards are both forms of

maximizing.

using implicit favorites.

scenario planning.

anchoring and adjusting.

intuition.