Examlex
Why is 'ethics' considered a normative discipline?
Prospect Theory
A behavioral economic theory that describes how people choose between probabilistic alternatives that involve risk.
Reference Point
A basis or standard for evaluation, assessment, or comparison; a point of reference.
Loss Averse
The psychological phenomenon where losses are perceived to be more significant than equivalent gains.
Mental Accounting
The process by which individuals categorize their money into different accounts based on subjective criteria.
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