Examlex
What technique is used when an international marketer sets the lowest possible price in order to end a market?
Behavioral Economists
Academics who study the role of psychological, cognitive, emotional, cultural, and social influences on the economic choices of individuals and institutions.
Time Inconsistency
A situation where a person's preferences change over time, leading to decisions that might contradict earlier plans or promises.
Self-Control Problems
Challenges individuals face in resisting short-term temptations in order to achieve long-term goals, often leading to decisions that are not in their best interest.
Dictator Game
A behavioral economics experiment that tests how fairly individuals allocate resources when one person (the "dictator") has complete control over the distribution.
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