Match the Following Terms with Their Description in Items

question 51

Multiple Choice

Match the following terms with their description in items
-The Chief of Staff.

• A)hospital administrators
• B)medical director
• C)staff or attending physicians
• D)residents
• E)nurses

---

Definitions:

Endowment Effect

The phenomenon in which individuals value an owned object higher than its market value simply because they own it.

Prospect Theory

Prospect Theory is a behavioral economic theory that describes how people choose between probabilistic alternatives involving risk, where the probabilities of outcomes are known.

Prospect Theory

A behavioral economic theory that describes how people choose between probabilistic alternatives that involve risk, where the probabilities of outcomes are unknown.

Behavioral Economists

Scholars examining how psychological, cognitive, emotional, cultural, and social influences affect the financial choices of individuals and organizations.