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A normal acronym is a word derived from the initial letters of the words of a phrase, [2] such as radar from "radio detection and ranging". [3] By contrast, a backronym is "an acronym deliberately formed from a phrase whose initial letters spell out a particular word or words, either to create a memorable name or as a fanciful explanation of a ...
Sample flowchart representing a decision process when confronted with a lamp that fails to light. In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options.
Hyperbolic discounting leads to choices that are inconsistent over time—people make choices today that their future selves would prefer not to have made, despite using the same reasoning. [52] Also known as current moment bias or present bias, and related to Dynamic inconsistency. A good example of this is a study showed that when making food ...
Inattentional blindness believes that human attention and cognition are limited, which explains why consumers will make choices based on their personal preferences. [14] Traditional game theory is a primarily normative theory as it seeks to pinpoint the decision that rational players should choose, but does not attempt to explain why that ...
However, they also present a number of liabilities to decision-making, such as requiring more time to make choices and by consequence rushing to a low-quality agreement in order to be timely. Some issues are also so simple that a group decision-making process leads to too many cooks in the kitchen: for such trivial issues, having a group make ...
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Despite this, more choices result with more dissatisfaction and regret in decisions. [3] The feeling of responsibility causes cognitive dissonance when presented with large array situations. [5] In this situation, cognitive dissonance results when there is a mental difference between the choice made and the choice that should have been made.
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