Examlex
What are mental categories representing activities, objects, qualities, or situations that share some common characteristics?
Maximizing
The strategy of seeking the best possible option or outcome among a set of choices, aiming for the highest utility or benefit.
Heuristic
A problem-solving approach using practical methods or shortcuts to generate satisfactory, but not necessarily optimal, solutions.
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.
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