Behavioral economics trivia

8 behavioral economics trivia questions, from easy to hard. Tap a question to see the answer. They're real questions from Rubicon, where you type the answer yourself and an AI judge reads what you meant.

This set covers Cognitive Biases in Decision-Making, Consumer Behavior, Nudges & Defaults, Price Psychology and Scarcity & the Psychology of Want.

Questions and answers

  1. Easy Why is forcing down an unpleasant purchased dinner logically flawed from an economic viewpoint?

    Because the expense is already irreversible, forcing yourself to eat only adds physical discomfort without returning any cash.

  2. Easy Why do consumers often select the middle option when presented with three price tiers?

    Consumers often choose the middle option as it feels like a safe, balanced compromise.

  3. Easy Complete the book title: 'Nudge: Improving Decisions About Health, Wealth, and ___'

    The missing final word in the famous subtitle of the book Nudge is 'Happiness'.

  4. Medium Why do retailers display a crossed-out higher price right next to a discounted sale price?

    It establishes a high mental reference point so shoppers perceive the discounted amount as an exceptional bargain.

  5. Medium How do e-commerce sites use real-time visual cues to create an urgent sense of scarcity for browsing customers?

    Sites display visible countdown clocks and warnings like 'only two left' to make shoppers fear losing the deal immediately.

  6. Medium Why does an extra credit card fee irritate shoppers far more than missing an equal cash discount?

    People experience the psychological pain of an added cost much more intensely than missing out on an equivalent gain.

  7. Hard Which list correctly arranges anchoring, the Dunning-Kruger effect, and nudge theory from earliest formally proposed to latest?

    Anchoring emerged first in 1974, followed by Dunning-Kruger in 1999, and nudge theory in 2008.

  8. Hard Why do people rarely cancel free software trials before recurring billing starts, even when they barely use the features?

    Using the trial fosters psychological ownership, making canceling feel like an active loss rather than simply declining an extra purchase.

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