Explain the Unique Characteristics of Embedded Markets

question 5

Essay

Explain the unique characteristics of embedded markets.

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Definitions:

B.F. Skinner

An influential American psychologist known for his work in behaviorism and for developing the theory of operant conditioning.

John B. Watson

An American psychologist who established the psychological school of behaviorism, asserting that behavior can be studied as a simple stimulus and response.

Salivary Conditioning

A form of classical conditioning in which the presence of a specific stimulus triggers the reflexive production of saliva.

Pavlov

A Russian physiologist best known for discovering the principle of classical conditioning through experiments with dogs and bells.