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The default effect, a concept within the study of nudge theory, explains the tendency for an agent to generally accept the default option in a strategic interaction. [1] The default option is the course of action that the agent, or chooser, will obtain if he or she does not specify a particular course of action. [ 2 ]
Truth-default theory (TDT) is a communication theory which predicts and explains the use of veracity and deception detection in humans. It was developed upon the discovery of the veracity effect - whereby the proportion of truths versus lies presented in a judgement study on deception will drive accuracy rates.
Several mechanisms have been proposed to explain the influence of defaults. For example, individuals may interpret defaults as policymaker recommendations, cognitive biases related to loss aversion like the status quo bias or endowment effect might be at work, or consumers may fail to opt-out of the default due to associated effort. [16]
Default effect, the tendency to favor the default option when given a choice between several options. [60] Denomination effect, the tendency to spend more money when it is denominated in small amounts (e.g., coins) rather than large amounts (e.g., bills). [61]
Status quo bias has been attributed to a combination of loss aversion and the endowment effect, two ideas relevant to prospect theory.An individual weighs the potential losses of switching from the status quo more heavily than the potential gains; this is due to the prospect theory value function being steeper in the loss domain. [1]
The game was officially announced the following month, as Bravely Default: Fairy's Effect - a mobile phone game role-playing video game to be developed by Silicon Studio and published by Square Enix. [3] The game would be the second mobile-spinoff for the series, after the Japan-only Bravely Default: D's Report. [1]
The ballot order effect refers to the effect of voting behavior based on the placement of candidates’ names on an election ballot. Candidates who are listed first often receive a small but statistically significant increase in votes compared to those listed in lower positions.
Other default rules may then be applied to the resulting theory. When the theory is such that no other default can be applied, the theory is called an extension of the default theory. The default rules may be applied in different order, and this may lead to different extensions. The Nixon diamond example is a default theory with two extensions: