When You Know Not to Use a Thumbs-Up Gesture in the Middle

question 73

True/False

When you know not to use a thumbs-up gesture in the Middle East, it is because you are aware of display rules.

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Definitions:

Endowment Effect

A cognitive bias where people ascribe more value to things merely because they own them.

Gains

The increase in economic benefit, which can be measured in terms of profit, utility, or welfare, resulting from an action or transaction.

Losses

The financial deficit arising when the cost of producing and operating exceeds the revenue generated.

Prospect Theory

A theory in behavioral economics that evaluates how people choose between probabilistic alternatives that involve risk, focusing on the psychology of decision-making.