Examlex
The nurse is caring for a patient who requires a complex dressing change. While in the patient's room, the nurse decides to change the dressing. Which action will the nurse take just before changing the dressing?
Satisficing
A decision-making strategy that entails choosing an option that meets a minimum level of satisfaction, rather than the optimal solution, due to constraints such as limited information or time.
Prospect Theory
A behavioral economic theory that describes how people make decisions between alternatives that involve risk, where the potential for losses influences choices more than equivalent gains.
Closing Costs
Fees and expenses, over and above the price of the property, incurred by buyers and sellers in transferring ownership of a property.
Escalation of Commitment
The tendency to continue to invest in a decision despite evidence of it being wrong, often leading to increased commitment based on already invested resources.
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