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Why Are Class-Action Suits Settled Based on Cost-Benefit Analysis

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Why are class-action suits settled based on cost-benefit analysis?


Definitions:

Variable Ratio

A schedule of reinforcement where a response is reinforced after an unpredictable number of responses, making it highly resistant to extinction.

Fixed Interval

A reinforcement schedule where a reward is given after a predetermined time period has passed following a response.

Fixed Ratio

A schedule of reinforcement where a response is reinforced only after a specified number of correct responses, often leading to high rates of response.

Variable Interval

A schedule of reinforcement where a response is rewarded after an unpredictable amount of time has passed, in operant conditioning.

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