Define Direct Democracy

question 48

Essay

Define direct democracy .

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Definitions:

Hedonic Treadmill

The theory that people perpetually return to a relatively stable level of happiness despite major positive or negative events or life changes.

Stickk.com

An online platform that utilizes commitment contracts to help users achieve personal goals through financial incentives and social support.

Behavioral Economics

A field of economics that examines how psychological, social, cognitive, and emotional factors influence the economic decisions of individuals and institutions, and how those decisions vary from those implied by classical theory.

Loss Aversion

In prospect theory, the property of most people’s preferences that the pain generated by losses feels substantially more intense than the pleasure generated by gains.