Examlex
A simple magnifier makes an image appear at the near point distance from the eye of the viewer (25 cm) .What is the magnifying power of the magnifier if it is constructed of a lens of focal length of 6.3 cm? Do not use the approximation formula.
Time Inconsistency
The phenomenon where a person's preferences change over time, such that what is preferred in the future is inconsistent with what is preferred now, often leading to planning and decision-making challenges.
Behavioral Economists
Researchers who study the psychological, cognitive, emotional, cultural, and social factors that affect the economic decisions of individuals and institutions.
Endowment Effect
A cognitive bias where individuals value an owned object higher than its market value simply because they own it.
Anchoring Effect
A cognitive bias in decision-making where individuals rely too heavily on the first piece of information (the "anchor") offered when making decisions.
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