Examlex
A binding minimum wage causes the quantity of labor demanded to exceed the quantity of labor supplied.
Personal Attribution
A psychological concept referring to how individuals explain causes of behavior and events, often attributing them to personal characteristics rather than external circumstances.
Situational Attribution
The process of inferring that external circumstances, rather than internal character traits, are responsible for an individual's behavior in a given situation.
Primacy Effect
The inclination to recall facts at the start of a list more effectively than the details that come afterward.
Prisoner's Dilemma
A scenario in game theory where two individuals acting in their own self-interest do not produce the optimal outcome for either party.
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