Examlex
According to psychologists, the stimulus-detection process in which sensory receptors translate external stimuli into nerve impulses is called _______________.
House Money Effect
The tendency for individuals to take greater risks when investing or gambling with money that was won or received unexpectedly, as opposed to their own hard-earned money.
Problem Recognition
is the initial stage in the consumer decision process where a consumer identifies a need or problem that requires satisfaction or solution.
Need Recognition
The first stage in the consumer decision process, occurring when an individual perceives a difference between their current state and a desired state.
Bounded Rationality
A concept suggesting that individuals make decisions based on limited information, limited time, and their own limited cognitive processing capacity.
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