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For instance, when a highly math-anxious student performs disappointingly on a math question, it could be due to math anxiety or the lack of competency in math because of math avoidance. Ashcraft determined that by administering a test that becomes increasingly more mathematically challenging, he noticed that even highly math-anxious ...
Loss aversion, where the perceived disutility of giving up an object is greater than the utility associated with acquiring it. [74] (see also Sunk cost fallacy) Pseudocertainty effect, the tendency to make risk-averse choices if the expected outcome is positive, but make risk-seeking choices to avoid negative outcomes. [75]
Thinking, Fast and Slow is a 2011 popular science book by psychologist Daniel Kahneman.The book's main thesis is a differentiation between two modes of thought: "System 1" is fast, instinctive and emotional; "System 2" is slower, more deliberative, and more logical.
For example, 666 are 3 numbers combined that represent the antichrist in the bible. In China, Vietnam, and Japan, 4 is a number that represents death. In many cultures the number 13 is also an unlucky number which people fear. These fears in numbers make it difficult for people to perform well in professional and educational settings.
Regret aversion is not only a theoretical economics model, but a cognitive bias occurring as a decision has been made to abstain from regretting an alternative decision. To better preface, regret aversion can be seen through fear by either commission or omission; the prospect of committing to a failure or omitting an opportunity that we seek to ...
In practice, there will be many situations where the probabilities are unknown, and one operates under uncertainty. In economics, Knightian uncertainty or ambiguity may occur. Thus, one must make assumptions about the probabilities, but the expected values of various decisions can be very sensitive to the assumptions.
Study skills or study strategies are approaches applied to learning. Study skills are an array of skills which tackle the process of organizing and taking in new information, retaining information, or dealing with assessments. They are discrete techniques that can be learned, usually in a short time, and applied to all or most fields of study.
Most theoretical analyses of risky choices depict each option as a gamble that can yield various outcomes with different probabilities. [2] Widely accepted risk-aversion theories, including Expected Utility Theory (EUT) and Prospect Theory (PT), arrive at risk aversion only indirectly, as a side effect of how outcomes are valued or how probabilities are judged. [3]