Examlex
James and Andrew created an Internet application they called Shazam that will allow millions of people to download music for free without using a central server. What is this phenomenon indicative of?
Recency Effect
The tendency to remember the most recently presented information best when recalling a list of items.
Short-term Memory
A type of memory that holds a small amount of information in an active, readily available state for a short period of time.
Commons Dilemma
A situation in which individuals' short-term selfish interests are in conflict with long-term group interests and common good.
Prisoner's Dilemma
A scenario in game theory in which two individuals acting in their own self-interest do not produce the optimal outcome for either party.
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