Examlex
Two events A and B are said to be independent if P(A and B)= P(A)+ P(B).
Dictator Game
An experimental economics scenario where a participant, the "dictator," has the power to decide how to allocate a sum of money between themselves and another participant.
Behavioral Economists
Academics analyzing the influence of psychological, cognitive, emotional, cultural, and social factors on the economic choices made by individuals and institutions.
Framing Effects
A cognitive bias where people react differently based on the way information is presented or framed, affecting decision-making and judgments.
Solar Panels
Devices that convert sunlight into electricity, using photovoltaic cells to capture and transform solar energy.
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