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Affective forecasting, also known as hedonic forecasting or the hedonic forecasting mechanism, is the prediction of one's affect (emotional state) in the future. [1] As a process that influences preferences , decisions , and behavior , affective forecasting is studied by both psychologists and economists , with broad applications.
Prospection. In psychology, prospection is the generation and evaluation of mental representations of possible futures. The term therefore captures a wide array of future-oriented psychological phenomena, including the prediction of future emotion (affective forecasting), the imagination of future scenarios (episodic foresight), and planning.
e. The Delphi method or Delphi technique (/ ˈdɛlfaɪ / DEL-fy; also known as Estimate-Talk-Estimate or ETE) is a structured communication technique or method, originally developed as a systematic, interactive forecasting method that relies on a panel of experts. [1][2][3][4][5] Delphi has been widely used for business forecasting and has ...
People display retrospective impact bias when they overestimate the intensity and duration of an emotional reaction to a past event. This can lead to errors in decision making because it can lead people overestimating how an event positively or negatively impacts their wellbeing. Furthermore, people are influenced by their current emotion when ...
Foresight is the ability to predict, or the action of predicting, what will happen or what is needed in the future. Studies suggest that much of human thought is directed towards potential future events. Because of this, the nature and evolution of foresight is an important topic in psychology. [1] Thinking about the future is studied under the ...
Anchoring effect. The anchoring effect is a psychological phenomenon in which an individual's judgments or decisions are influenced by a reference point or "anchor" which can be completely irrelevant. Both numeric and non-numeric anchoring have been reported in research. In numeric anchoring, once the value of the anchor is set, subsequent ...
Futures studies, futures research, futurism research, futurism, or futurology is the systematic, interdisciplinary and holistic study of social/technological advancement, and other environmental trends; often for the purpose of exploring how people will live and work in the future. Predictive techniques, such as forecasting, can be applied, but ...
Forecasting is the process of making predictions based on past and present data. Later these can be compared (resolved) against what happens. For example, a company might estimate their revenue in the next year, then compare it against the actual results creating a variance actual analysis. Prediction is a similar but more general term.