Search results
Results from the WOW.Com Content Network
Mental accounting (or psychological accounting) is a model of consumer behaviour developed by Richard Thaler that attempts to describe the process whereby people code, categorize and evaluate economic outcomes. [2]
Richard H. Thaler (/ ˈ θ eɪ l ər /; [1] born September 12, 1945) is an American economist and the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business. In 2015, Thaler was president of the American Economic Association. [2]
Mental accounting is a behavioral bias that causes one to separate money into different categories known as mental accounts either based on the source or the intention of the money. [58] Anchoring. Anchoring describes when people have a mental reference point with which they compare results to. For example, a person who anticipates that the ...
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
Richard Thaler's observation that individuals tend to mentally subdivide their wealth, with each mental "bucket" dedicated to different objectives (a concept called mental accounting) was foundational to the later development of GBI. Indeed, some authors refer to goals-based portfolios as "mental accounts."
After being diagnosed with bipolar disorder in my 20s, I went through a series of manic episodes. During one manic episode, I partied hard, bought a nightclub, and committed a white-collar crime.
A Las Vegas judge sentenced a Texas man to 100 years in prison for his role in a two-state shooting on Thanksgiving 2020, which included killing a man in Nevada.
From Maryland to Asia, murder suspect Luigi Mangione traversed the globe before CEO Brian Thompson was killed. His travels shed light on him.