By Anonymous -
Economics Quiz 2,
Possible Essay Questions for Janus’ Classes
1. Please explain the “present bias.” Cite examples.
        2. Why does the author of “The Cognitive Biases Tricking Your Brain” think that the “confirmation bias”  is the most “pervasive and damaging”? Please provide some of the  proof that the author  cites for this statement. 
         3. Why does Ariely think that the truth is relative? Please cite examples of this relativity from his book and your own life.
         4. Please explain elasticity. Why is it critical that the owner of a business understand this term and employ the concept of elasticity in running their enterprise? 

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