Examlex
Describe the various documents that are prepared for,and presented at,a typical FOMC meeting.
Endowment Effect
A mental prejudice in which individuals attribute higher worth to items simply because they possess them.
Prospect Theory
A behavioral economic theory that describes how people make decisions between probabilistic alternatives that involve risk, where the outcomes are known.
Identical Item
A product or object that is exactly the same in every aspect as another, with no variations.
Status Quo Bias
The preference for the current state of affairs, where changes are resisted even when better options are available.
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