Examlex
Expressions such as I'm sorry, and or rather are examples of:
Framing Effects
The influence on an individual's decision-making caused by the way information is presented, rather than just the information itself.
Status Quo
The existing state of affairs; in prospect theory, the current situation from which gains and losses are calculated.
Utility
A measure of satisfaction or value that consumers receive from consuming goods and services.
Endowment Effect
The tendency people have to place higher valuations on items they possess (are endowed with) than on identical items that they do not possess; perhaps caused by loss aversion.
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