Behavioral Economics Crossword Puzzle

QUESTIONS LIST:

• behavorial economics: the sub field of economics that applies psychological insights into human behavior and to explain economic decision making.
• cognitive bias: a subconscious error in thinking that leads to irrational decision making.
• endowment effect: the tendency to put more value on things you already own.
• fomo: the tendency to feel anxiety/fear that an exciting or interesting event may currently be happening elsewhere, often aroused by posts seen on a social media website.
• herd mentality: the tendency to conform to the behaviors and beliefs of the people around you.
• loss aversion: the tendency to regard losses as considerably more important than gains of comparable magnitude.
• overestimation: when a person believes they are better at something than they actually are.
• overnight test: a strategy used to combat loss aversion by imagining that overnight something you own has been replaced with cash, then determining whether you would prefer to keep the cash or buy the item back.
• over placement: when a person mistakenly believes they are better than others.
• over precision: when a person has an exaggerated certainty that an answer is correct.
• sunk costs: costs that have already been incurred and cannot be recovered.
• sunk cost fallacy: the tendency to make decisions about a current situation based on what resources you have already invested in the situation.