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Inoculation is a theory that explains how attitudes and beliefs can be made more resistant to future challenges. For an inoculation message to be successful, the recipient experiences threat (a recognition that a held attitude or belief is vulnerable to change) and is exposed to and/or engages in refutational processes (preemptive refutation, that is, defenses against potential counterarguments).
Loss aversion, where the perceived disutility of giving up an object is greater than the utility associated with acquiring it. [74] (see also Sunk cost fallacy) Pseudocertainty effect, the tendency to make risk-averse choices if the expected outcome is positive, but make risk-seeking choices to avoid negative outcomes. [75]
Better yet, get the opinion of a credentialed financial advisor, retirement specialist or other professional for objective strategies that can mitigate risk when growing your wealth. 2. You don ...
Let’s say that you set aside $10,000 in a high-yield savings account that earns 4.50% APY. You’ll earn about $450 in guaranteed interest over the first year while keeping your money protected.
Regret aversion is not only a theoretical economics model, but a cognitive bias occurring as a decision has been made to abstain from regretting an alternative decision. To better preface, regret aversion can be seen through fear by either commission or omission; the prospect of committing to a failure or omitting an opportunity that we seek to ...
Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals.. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy.
Older adults, on the other hand, make choices based on immediate reactions to gains and losses. [11] Older adults' lack of cognitive resources, such as flexibility in decision making strategies, may cause older adults to be influenced by emotional frames more so than younger adults or adolescents. [29]
With a $20 million retirement fund at your disposal, you can leave a substantial inheritance to your children or grandchildren and build meaningful legacies. It might even allow establishing a ...