Examlex
____ is the term for the separation of a service from the entity (or entities) providing that service.
Prospect Theory
A behavioral economics theory of preferences having three main features: (1) people evaluate options on the basis of whether they generate gains or losses relative to the status quo; (2) gains are subject to diminishing marginal utility, while losses are subject to diminishing marginal disutility; and (3) people are prone to loss aversion.
Salary
A form of payment from an employer to an employee, which may be specified in an employment contract.
Loss Averse
The behavioral tendency of individuals to prefer avoiding losses over acquiring equivalent gains, highlighting the emotional impact of loss.
Prospect Theory
A behavioral economic theory that describes how people choose between probabilistic alternatives that involve risk, where the probabilities of outcomes are uncertain.
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