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A patient has been taking temazepam (Restoril) for intermittent insomnia. She calls the nurse to say that when she takes it, she sleeps well, but the next day she feels "so tired." Which explanation by the nurse is correct?
Utility
A measure of satisfaction or value that consumers receive from consuming goods and services.
Endowment Effect
The tendency people have to place higher valuations on items they possess (are endowed with) than on identical items that they do not possess; perhaps caused by loss aversion.
Behavioral Economists
Economists who study how psychological, social, cognitive, and emotional factors affect the economic decisions of individuals and institutions.
Inconsistent Anchoring
A cognitive bias where individuals rely too heavily on an initial piece of information (anchor) to make subsequent judgments but inconsistently adjust away from that anchor.
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