Explain the "Law of One Price

question 48

Essay

Explain the "law of one price."

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Definitions:

Law of Effect

A principle of learning that states behaviors followed by positive outcomes are more likely to be repeated, while those followed by negative outcomes are less likely to occur.

Variable Ratio

A reinforcement schedule in operant conditioning where a response is reinforced after an unpredictable number of responses, enhancing its effectivity.

Fixed Ratio

A schedule of reinforcement where a response is reinforced only after a specified number of responses, often used in behavior modification programs.

Variable Interval

A reinforcement schedule in which the reinforcement is provided after a variable and unpredictable amount of time has passed following a behavior.