Describe One of the Modalities of Measurement (Behavioral, Self-Report, or Physiological)

question 43

Essay

Describe one of the modalities of measurement (behavioral, self-report, or physiological), and discuss both the advantages and the limitations of this modality.

---

Definitions:

Affect Heuristic

A mental shortcut used in decision making and judgement that involves relying on emotions and feelings.

Regret Aversion

A theory in behavioral economics that describes the emotional reaction people experience after realizing they have made an error in judgment, leading them to avoid making decisions.

Money Illusion

Money illusion is a cognitive bias where people misjudge the value of money in terms of its purchasing power, typically neglecting the effects of inflation or deflation.

Representativeness Heuristic

A cognitive bias in decision-making where the likelihood of an event is estimated based on how similar it is to the typical case.