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The increased attention by students sometimes results in increased effort or persistence, which yields achievement gains. If they are due to a novelty effect, these gains tend to diminish as students become more familiar with the new medium. This was the case in reviews of computer-assisted instruction at the secondary school level, grades 6 to ...
Another of the characteristics of hyperconsumerism is the constant pursuit of novelty, encouraging consumers to buy new and discard the old, seen particularly in fashion, where the product lifecycle can be very short, measured sometimes in weeks only.
The appeal to novelty (also called appeal to modernity or argumentum ad novitatem) is a logical fallacy in which one prematurely claims that an idea or proposal is correct or superior, exclusively because it is new and modern. [1] In a controversy between status quo and new inventions, an appeal to novelty argument is not in itself a valid ...
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 ...
Innovation is production or adoption, assimilation, and exploitation of a value-added novelty in economic and social spheres; renewal and enlargement of products, services, and markets; development of new methods of production; and the establishment of new management systems. It is both a process and an outcome.
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 "nearly archetypal example" is an artificial stock market model created by the Santa Fe Institute in 1989. [5] The model shows two different outcomes, one where "agents do not search much for predictors and there is convergence on a homogeneous rational expectations outcome" and another where "all kinds of technical trading strategies appearing and remaining and periods of bubbles and ...
Positive economics as a science concerns the investigation of economic behavior. [4] It deals with empirical facts as well as cause-and-effect relationships. It emphasizes that economic theories must be consistent with existing observations and produce precise, verifiable predictions about the phenomena under investigation.