Examlex
Describe personalization and customization,providing examples of each.
Risk Averse
A description of an individual or entity's preference for avoiding loss over making a gain, indicating a higher value placed on avoiding risk than on potential rewards.
Prospect Theory
A behavioral economic theory proposing that people value gains and losses differently, leading to value-driven decision-making rather than strictly rational.
"Low Fat"
A label indicating that a food product contains significantly less fat than the standard version.
Prospect Theory
A theory in behavioral economics that explains the decision-making process of individuals when faced with choices that have uncertain outcomes involving risk, and the probabilities of these outcomes are not known.
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