Examlex
_____ refers to individuals' understanding that they and others think, feel, perceive, and have private experiences.
Risk Aversion
The tendency to prefer certainty over uncertainty, characterized by a preference for safe options over risky ones.
Certainty Effect
The psychological phenomenon where people tend to give greater weight to outcomes that are certain, compared to outcomes that are probable.
Liquidate Resources
Refers to the process of converting assets or resources into cash or cash equivalents by selling them in the market.
Risk Aversion
The tendency to avoid taking risks and prefer safer options.
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