Examlex
One reason why McDonald's charges a single price for its products is that it is difficult and costly for the company to determine each individual consumer's willingness to pay.
Curse Of Knowledge
A cognitive bias that occurs when an individual, possessing a particular knowledge, finds it difficult to think about problems from the perspective of lesser-informed people.
Mentally Simulate
The process of imagining or visualizing a scenario or sequence of actions in one's mind, often used to prepare for actual performance or to foresee outcomes.
Great Person Theory
A leadership theory that suggests history is shaped by the actions of extraordinary leaders with unique qualities.
Certain Traits
Specific characteristics or attributes that are distinctive to an individual or species.
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