Examlex
Norcross argues that it is morally wrong to purchase and consume factory-raised meat because it is morally indistinguishable from puppy-torturing Fred's behavior.
Economic Payoff
The financial return or reward received from an investment or decision, measured in terms of profit or loss.
Equity
Fairness; everyone gets his or her fair share. Since people can disagree about what is “fair,” equity is not as well defined a concept as efficiency.
Rational Decision
The choice made by logically considering all available information, potential costs, and benefits to achieve the optimal outcome.
Bounded Rationality
A concept suggesting that decision-making is limited by the information available, cognitive limitations of the mind, and the finite amount of time available to make a decision.
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