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The phrase "perverse incentive" is often used in economics to describe an incentive structure with undesirable results, particularly when those effects are unexpected and contrary to the intentions of its designers. [1] The Indian cobra
An erosion gully in Australia caused by rabbits, an unintended consequence of their introduction as game animals. In the social sciences, unintended consequences (sometimes unanticipated consequences or unforeseen consequences, more colloquially called knock-on effects) are outcomes of a purposeful action that are not intended or foreseen.
Psychologists have been interested in the factors that are important in behavior change and control since psychology emerged as a discipline. One of the first principles associated with learning and behavior was the Law of Effect, which states that behaviors that lead to satisfying outcomes are likely to be repeated, whereas behaviors that lead ...
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 ...
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.
Operant conditioning originated with Edward Thorndike, whose law of effect theorised that behaviors arise as a result of consequences as satisfying or discomforting. In the 20th century, operant conditioning was studied by behavioral psychologists, who believed that much of mind and behaviour is explained through environmental conditioning.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Firefighters are exposed to risks of fire and building collapse during their work.. In simple terms, risk is the possibility of something bad happening. [1] Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. [2]