Examlex
Most new car warranties cover a minimum of the first 72,000 miles or 6 years of ownership.
Level of Experience
Refers to the depth or amount of knowledge and skill that an individual has accumulated in a particular area over time.
Prospect Theory
A behavioral economic theory that describes how people choose between probabilistic alternatives that involve risk, where the probabilities of outcomes are known.
Satisficing
A decision-making strategy that aims for a satisfactory or adequate result, rather than the optimal solution, due to constraints like time or information.
Intuition
The capacity to grasp or recognize something instantly, without requiring conscious thought.
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