Examlex
Which part of the brain is most effective at breaking information into parts and processing this information in order, one item after the next?
Mental Accounting
A concept in behavioral economics where individuals categorize and treat money differently based on subjective criteria, often leading to irrational financial decisions.
Retirement Account
A financial account designed for saving money towards retirement, often offering tax benefits.
Contributions
Payments or services provided by individuals or organizations towards a common fund or cause, often used in the context of charitable donations or participation in joint projects.
Loss Aversion
A concept in behavioral economics indicating that people tend to prefer avoiding losses to acquiring equivalent gains; it's the idea that the pain of losing is psychologically about twice as powerful as the pleasure of gaining.
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