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𝐸𝑈=∑(𝑝𝑖)𝑣(𝑥𝑖)𝑛𝑖=1 - correct answer ✔v and w prospect theory formula
Social factors, like attaining social prestige or social disapproval, and emotional rewards are benefits and
costs just like material rewards and punishments. What are these rewards called? - correct answer
✔social rewards
An individual can choose to receive a guaranteed $5 or take a 50% chance of receiving either $12 or $0.
The individual who chooses the guaranteed $5 is said to be - correct answer ✔risk averse
the value an individual could have received but gave up to pursue another option. - correct answer
✔Opportunity Cost
To reduce crime, the ____ advocates targeting minor offenses. - correct answer ✔Broken Windows
Theory
Goelzhauser (2012) finds that states in which judges are elected have ____ capital punishment
convictions than states without judicial elections. - correct answer ✔more
Why has public support for the death penalty been diminishing? - correct answer ✔Growing
awareness of errors in convictions.
What calculates the probability of an outcome multiplied by the utility of an outcome summed across all
possible outcomes of a choice? - correct answer ✔Expected utility
What is one factor that increases the cost of crime? - correct answer ✔Implementing truth-in-
sentencing laws