Examlex
Suppose that you have solved a problem by letting the letter x represent one unknown and by letting the letter y represent another unknown. Which problem-solving method have you used?
Mental Accounting
A concept in behavioral economics that refers to the different values people place on money, based on subjective criteria, affecting economic decision-making.
Confirmation Bias
The tendency to search for, interpret, favor, and recall information in a way that confirms one’s preexisting beliefs or hypotheses, often leading to statistical errors.
Affect Heuristic
A mental shortcut used in decision making and judgement that involves relying on emotions and feelings.
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