Why Do People Make Decisions That Don't Maximize Their Expected

question 105

Essay

Why do people make decisions that don't maximize their expected monetary value? Explain why and offer three examples of such behavior.

---

Definitions:

Blood Flow

The continuous circulation of blood through the cardiovascular system to deliver oxygen and nutrients to tissues and organs.

Brain Areas

Specific regions within the brain, each responsible for various functions such as emotion, thought, movement, and sensory processing.

Language

A system of communication used by humans consisting of words used in structured and conventional ways.

Experimental Procedure

A sequence of actions or methods conducted as part of a scientific experiment.