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Bulletproofing is the process of making an object capable of stopping a bullet or similar high velocity projectiles (e.g. shrapnel). The term bullet resistance is often preferred because few, if any, practical materials provide complete protection against all types of bullets, or multiple hits in the same location, or simply sufficient kinetic ...
In behavioral economics, time preference (or time discounting, [1] delay discounting, temporal discounting, [2] long-term orientation [3]) is the current relative valuation placed on receiving a good at an earlier date compared with receiving it at a later date. [1]
Behavioral economics is the study of the psychological (e.g. cognitive, behavioral, affective, social) factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economic theory. [1] [2] Behavioral economics is primarily concerned with the bounds of rationality of economic ...
The field of economics originally assumed that humans were rational economic actors, and as it became apparent that this was not the case, the field began to change. The research of social preferences in economics started with lab experiments in 1980, where experimental economists found subjects' behavior deviated systematically from self ...
Uncertainty is a major factor that encourages the use of social proof. One study found that when evaluating a product, consumers were more likely to incorporate the opinions of others through the use of social proof when their own experiences with the product were ambiguous, leaving uncertainty as to the correct conclusion that they should make.
It studies how economic behavior can shape our understanding of the brain, and how neuroscientific discoveries can guide models of economics. [ 1 ] It combines research from neuroscience , experimental and behavioral economics , and cognitive and social psychology.
Psychophysiological economics differs from behavioral economics by focusing on direct measures of physiological change and observational data, in addition to attitudinal measurement. Psychophysiological economics also differs from functional magnetic resonance imaging , which is typically applied exclusively to the study of brain activity.
Economic sociology is the study of the social cause and effect of various economic phenomena. The field can be broadly divided into a classical period and a contemporary one, known as "new economic sociology".