Figure O-2 In the item marked 2 in the figure above, the attribute value should be in parentheses.
Definitions:
Behavioral Economics
A field of economic research that incorporates psychological insights into human behavior to explain economic decision-making.
Irrational
Describes a decision maker who chooses an option that leaves him or her worse off than choosing another available option.
Rational Decision
A decision-making process that is based on making choices that result in the optimal level of benefit or utility for the individual.
Economic Payoff
The return or financial gain from an investment or decision in the context of economics.
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