Examlex
Define the goals and objectives of e-tailers relating to consumer interactivity online.
Self-Control Problems
Refers to the difficulty people have in sticking with earlier plans and avoiding suboptimal decisions when finally confronted with a particular decision-making situation. A manifestation of time inconsistency and potentially avoidable by using precommitments.
Time Inconsistency
The human tendency to systematically misjudge at the present time what will actually end up being desired at a future time.
Behavioral Economists
Economists who study the psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.
Precommitments
Actions taken ahead of time that make it difficult for the future self to avoid doing what the present self desires. See time inconsistency and self-control problems.
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