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Inequity aversion research on humans mostly occurs in the discipline of economics though it is also studied in sociology.. Research on inequity aversion began in 1978 when studies suggested that humans are sensitive to inequities in favor of as well as those against them, and that some people attempt overcompensation when they feel "guilty" or unhappy to have received an undeserved reward.
A time-domain reflectometer; an instrument used to locate the position of faults on lines from the time taken for a reflected wave to return from the discontinuity.. A signal travelling along an electrical transmission line will be partly, or wholly, reflected back in the opposite direction when the travelling signal encounters a discontinuity in the characteristic impedance of the line, or if ...
They have also served as a reference point in discussing the state of interdisciplinary work between economics and psychology. [9] [12] Past presidents of IAREP include Werner Güth, Erich Kirchler, David Leiser, Fred van Raaij and Paul Webley. The current president in office for the 2020–2022 term is Professor Gerrit Antonides. [13]
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 ...
Reference dependence is a central principle in prospect theory and behavioral economics generally. It holds that people evaluate outcomes and express preferences relative to an existing reference point, or status quo. It is related to loss aversion and the endowment effect. [1] [2]
The Hawthorne effect is a type of human behavior reactivity in which individuals modify an aspect of their behavior in response to their awareness of being observed. [1] [2] The effect was discovered in the context of research conducted at the Hawthorne Western Electric plant; however, some scholars think the descriptions are fictitious.
The dictator game is a popular experimental instrument in social psychology and economics, [1] a derivative of the ultimatum game. The term "game" is a misnomer because it captures a decision by a single player: to send money to another or not. [2] Thus, the dictator has the most power and holds the preferred position in this “game.”
Whereas Shannon's approach and framework was abstract and based on mathematics, Nakashima tried to extend the existent circuit theory of the time to deal with relay circuits, and was reluctant to accept the mathematical and abstract model, favoring a grounded approach. [6]