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This phenomenon is referred to as payment decoupling. 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 ]
The pain of paying is not the only theory aiming to explain the different behaviours associated with different payment methods. Dilip Soman produced the framework of payment transparency, in which he argues that it is the transparency of the payment method, focusing on its reflection of value, that determines how salient, or painful, the ...
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Categorization is a type of cognition involving conceptual differentiation between characteristics of conscious experience, such as objects, events, or ideas.It involves the abstraction and differentiation of aspects of experience by sorting and distinguishing between groupings, through classification or typification [1] [2] on the basis of traits, features, similarities or other criteria that ...
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Download as PDF; Printable version; In other projects Wikimedia Commons ... This non-exhaustive list contains many of the sub-fields within the field of psychology ...