Predictably Irrational Snakes & Ladders

Roll the dice!

Ariely's Snakes and Ladders

Instructions

Question 16

Retirement savings is at all-time low in the United States. Come up with a creative way to get Americans to save more.

Question 2

In what way does human decision-making resemble that of a gosling (duckling)?a) It takes time for us to make the right decisions b) First decisions become imprinted for a long time c) We need someone to teach us survival skills d) We follow the first adult figure we see when we are born

Question 31

What is your favorite thing you have learned so far? How does it impact you now and how has learning about the topic changed your behavior?

Question 19

According to Ariely, what psychological effect does the concept of "free" have on people?a) People perceive free items as having lower value than items with a cost b) People are more likely to choose items labeled as "free," even if they are of lower quality c) People are less likely to be influenced by promotions offering free items d) People tend to value free items more than items they have to pay for

Question 23

How did Dan Ariely battle procrastination during his hepatitis C treatment?a) By scheduling his injections at specific times of the day b) By purchasing movies to watch during his injections c) By avoiding thinking about his treatment until the last minute d) By delegating the responsibility of administering his injections to someone else

Question 26

How does Ariely's exploration of procrastination relate to broader issues of self-control? a) Procrastination is a minor issue compared to other forms of self-control failure b) Procrastination is indicative of a lack of self-discipline c) Procrastination is unrelated to broader issues of self-control d) Procrastination illustrates the challenges individuals face in resisting immediate gratification

Question 22

Should you make the first offer when asking for a raise, or wait for your boss to propose an offer to you?a) I'm scared right now! b) Make the first offer c) Wait for your boss to propose d) My boss is proposing?

Question 7

Provide the following:1. One clear example of when receiving something for free benefits individuals 2. One clear example of when obtaining something for free leads indivudals to make mistakes

Question 4

The idea behind the cost of zero cost is:a) People value what they get for free in a negative way b) People believe that they deserve to get things for free c) People undervalue what they get for free d) People are overly excited by items that are free when conducting cost-benefit calculations

Question 25

What is the main implication of the findings in Predictability Irrational for businesses and marketers? a) Consumers always make purchasing decisions based on rational calculations b) Businesses should focus solely on price reductions to increase sales c) Social norms and context significantly influence consumer behavior d) Consumers are immune to marketing strategies that appeal to emotions

Question 18

What did Ariely find in his experiments regarding the decoy effect?a) People consistently chose the option that was most expensive b) People tended to avoid choosing options that were extremely cheap c) People preferred options that were more expensive, regardless of their quality d) People's preferences between two options changed when a third, less attractive option was introduced

Question 1

All else equal, when deciding to bring a friend to a bar to help you pickup a date, you should do the following: a) Bring an attractive friend who looks as though he/she could be your twin b) Bring along friend who is similar but a slightly less attractive version of you c) Bring an unattractive friend to make you look better in contrast d) Bring a friend who is drop dead gorgeous

Question 3

In the experiment where participants had to choose between Lindt truffles and Hershey's Kisses, what was the outcome when the price of both chocolates were reduced by one cent (making the Hersey's free)?a) More participants chose the Hershey's Kisses b) More participants chose the Lindt truffles c) The number of participants choosing each option remained the same d) Participants refused to choose either option

Question 21

Think about black pearls...Now answer the following: 1. How were black pearls seen prior to Assel? 2. What did Assel do to change the black pearl market? 3. How did he accomplish this? 4. How are black pearls seen now?

Question 29

1. Why wouldn't we compare these two athletes?2. Provide an example of two things we can compare and why!

Question 17

Ariely illustrates the concept of relativity using which example?a) Pricing of diamonds b) Speed limits on highways c) Menu options at a restaurant d) Buying groceries in bulk

Question 13

The CEO of a non-profit that operates a mentoring program for at-risk youth inyour community approaches you for consulting assistance. Currently, they have more youth than adult mentors. They have heard about other mentoring programs that fixed this imbalance by offering compensation for adults to join and mentor a child. What advice would you give the organization about their recruitment strategy and this possible option?

Question 9

In the experiment involving students and assignment deadlines, what was the outcome when students were allowed to set their own deadlines?a) Students completed the assignments earlier than required b) Students waited until the last minute to complete the assignments c) Students were more likely to miss their self-imposed deadlines d) Students refused to set deadlines for themselves

Question 15

In order to get the best work from her students, Mrs. Holcomb should:a) Set deadlines that are evenly spaced throughout the course b) Let students choose their own deadlines c) Require students to complete all work by end of semester d) Give students a flexible schedule so that they could adjust their schedule as needed

Question 11

If you managed a car-sharing service (ZipCar) where customers can rent a car by the hour (or fraction of an hour), what approach would you use to ensure that most people return their cars on time and increase customer long-term loyalty?a) Charge a $10 fine for every 30 minutes a car is late b) Cancel a customer's subscription if they return a car late 3 times in a month c) Remind them at the beginning of their rental that another customer needs to use the car after them and it is their responsibility to get the car back in time d) Call them 10 minutes before the rental period ends and warn them that they need to return it on time

What effect were we alluding to? Give another example of this effect and explain how this effect works

Question 29

1. Ms. Holcomb attempted to show you this effect in class with the following example:

Question 22

Ariely asked participants to drag as many circles as they could, and measured how many circles they dragged within five minutes. 3 groups completed this task, who completed the most and why?a) those paid nothing b) those paid 50 cents c) those paid $5 d) those paid $10

Question 20

What did Ariely's experiments with Amazon's Super Saver Shipping reveal?a) People were willing to pay extra for faster shipping b) People spent more money to qualify for free shipping c) People were less likely to purchase items when free shipping was offered d) People were indifferent to shipping costs when purchasing items online

Question 14

The main issue with procrastination is: a) We succumb to the temptation of the moment b) We fail to properly plan our workload over time c) I don’t feel like answering now, I’ll answer later d) We succumb to the planning fallacy

FINAL QUESTION

Question 27

What is Ms. Holcomb's dogs name?

Question 28

1. Explain what is going on in this image2. Correct label the effect

Question 6

Based on behavioral economic theory, which offer will be the most successful for an online shopping site?a) Send customers an offer for one item at 50 percent off the retail price b) Send customers an offer where if they buy one item at full price, they get another one for free c) Send customers a coupon for free shipping with a purchase over $20. d) Send customers an offer where if they refer 2 friends to the website and they make a purchase, they get a $20 credit.

Question 10

Asking a co-worker to come to your house and help you paint your living room would violate social norms if:a) You paid them $5.00 to do it b) You gave them tickets to a basketball game c) You promised to babysit their kids for them that evening d) You first told them how miserable your life has been over the last six months

Question 8

What did Ariely's experiments involving deadlines reveal about procrastination?a) Deadlines affect people's cognitive ability to complete tasks early b) Deadlines have no effect on people's tendency to procrastinate c) People become more efficient at completing tasks when deadlines are removed d) People tend to procrastinate more when deadlines are distant

SNAKES

Ladders

Ladders

SNAKES

If the player lands on a square where the tail of a snake starts, they go down to a lower square where the headis located.

If the player falls on the bottom of a ladder, they move up to the top square where the ladder ends.

INSTRUCTIONS

Players start with a token - which represents each of them - in the initial square and take turns rolling the die. The tokens move according to the numbering on the board, in ascending order. If, at the end of a move, a player lands on a square where a ladder begins, they move up it to the square where it ends. If, on the other hand, they land on a square where a snake's tail begins, they move down it to the square where its head ends. If a player rolls a 6, they can move twice in a single turn. If a player rolls three consecutive 6's, they must return to the initial square and cannot move their token until they roll a 6 again. The player who reaches the final square is the winner. There is a variation where, if a player is six or fewer squares away from the end, they must roll precisely the number needed to reach it. If the number rolled exceeds the number of remaining squares, the player cannot move.

Question 12

Give an example of where you or someone you know mixed up a social and marketnorm. What was the outcome? What could have been done to result in a better outcome?

Question 5

Explain why 'Free Museum Days' may not actual feel 'free' or be the best option for some individuals?

Question 24

What lesson did Ariely learn from his experience with hepatitis C and battling procrastination?a) Procrastination can be overcome by setting strict deadlines b) Finding enjoyable distractions can help mitigate procrastination tendencies c) Procrastination is an inherent part of human behavior and cannot be changed d) Seeking external motivation is the only way to combat procrastination