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Susie learned to sit on the floor and cry until she is given a piece of candy.This is an example of
Precommitments
Strategies or commitments made in advance to limit or define future actions or decisions.
Time Inconsistency
Time inconsistency refers to the situation where a decision-maker's preferences change over time, especially in ways that involve a conflict between short-term and long-term interests.
Behavioral Economists
Behavioral economists study the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.
Fairness Concerns
Issues related to the equitable and just treatment of individuals within society, often referring to economic inequality and access to resources.
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