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Example of images that can be used in a change blindness task. Although similar, the two images have a number of differences. Change blindness is a perceptual phenomenon that occurs when a change in a visual stimulus is introduced and the observer does not notice it.
Prospect theory is a theory of behavioral economics, judgment and decision making that was developed by Daniel Kahneman and Amos Tversky in 1979. [1] The theory was cited in the decision to award Kahneman the 2002 Nobel Memorial Prize in Economics .
Social cryptomnesia, a failure by people and society in general to remember the origin of a change, in which people know that a change has occurred in society, but forget how this change occurred; that is, the steps that were taken to bring this change about, and who took these steps. This has led to reduced social credit towards the minorities ...
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]
Each behavioural change theory or model focuses on different factors in attempting to explain behaviour change. Of the many that exist, the most prevalent are learning theories, social cognitive theory, theories of reasoned action and planned behaviour, transtheoretical model of behavior change, the health action process approach, and the BJ Fogg model of behavior change.
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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 following criteria are required to classify an event as an inattentional blindness episode: 1) the observer must fail to notice a visual object or event, 2) the object or event must be fully visible, 3) observers must be able to readily identify the object if they are consciously perceiving it, [3] and 4) the event must be unexpected and the failure to see the object or event must be due ...