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"Give me a break!" you say to yourself as you read the description of Latané and Darley's (1968) experiment,"How often in the real world do people on intercoms hear a seizure unfold? How similar is that situation to real life?" You are skeptical about the ________ validity of their experiment.
Behavioral Economists
Experts who analyze the influence of psychological, cognitive, emotional, cultural, and social factors on the economic choices of persons and entities.
Self-Interest
That which each firm, property owner, worker, and consumer believes is best for itself and seeks to obtain.
Moral Considerations
Ethical elements that influence decision-making, emphasizing the distinction between right and wrong actions in personal and professional contexts.
Ultimatum Game
A game in experimental economics and psychology, where two players decide on how to divide a sum of money; one player offers a split and the other can accept or reject it, where rejection means both get nothing.
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