Examlex
Which of the following does NOT reflect the System 1 approach to thinking as proposed by Kahneman?
Rational
A decision-making process that is based on making choices that result in the optimal level of benefit or utility for an individual.
Expected Additional Benefit
The anticipated extra advantage or income gained from making a particular business decision or investment.
Expected Additional Cost
The anticipated expenses that are not initially accounted for, occurring as a consequence of a new action or decision.
Expected Marginal Cost
The anticipated cost of producing one additional unit of a good or service, taking into account all relevant factors and future circumstances.
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