Search results
Results From The WOW.Com Content Network
Countersignaling or countersignalling is the behavior in which agents with the highest level of a given property invest less into proving it than individuals with a medium level of the same property.
The rationale behind countervalue targeting is that if two sides have both achieved assured destruction capability, and the nuclear arsenals of both sides have the apparent ability to survive a wide range of counterforce attacks and carry out a second strike in response, the value diminishes in an all-out nuclear war of targeting the opponent's ...
Counter-economics is the study of the Counter-Economy and its practices. The Counter-Economy includes the free market, the Black Market, the "underground economy," all acts of civil and social disobedience, all acts of forbidden association (sexual, racial, cross-religious), and anything else the State, at any place or time, chooses to prohibit ...
The same change in price framed differently, for example as a $5 discount or as a $5 surcharge avoided, has a significant effect on consumer behavior. [16] Although traditional economists consider this " endowment effect ", and all other effects of loss aversion, to be completely irrational , it is important to the fields of marketing and ...
Counterfactual thinking is a concept in psychology that involves the human tendency to create possible alternatives to life events that have already occurred; something that is contrary to what actually happened.
An example is where people predict the value of a stock market index on a particular day by defining an upper and lower bound so that they are 98% confident the true value will fall in that range. A reliable finding is that people anchor their upper and lower bounds too close to their best estimate. [ 14 ]
As soon as one side states their first price offer, the (subjective) anchor is set. The counterbid (counter-anchor) is the second-anchor. [67] In addition to the initial research conducted by Tversky and Kahneman, multiple other studies have shown that anchoring can greatly influence the estimated value of an object. [68]
Veblen goods such as luxury cars are considered desirable consumer products for conspicuous consumption because of, rather than despite, their high prices.. A Veblen good is a type of luxury good, named after American economist Thorstein Veblen, for which the demand increases as the price increases, in apparent contradiction of the law of demand, resulting in an upward-sloping demand curve.