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A simple example of a preference order over three goods, in which orange is preferred to a banana, but an apple is preferred to an orange. In economics, and in other social sciences, preference refers to an order by which an agent, while in search of an "optimal choice", ranks alternatives based on their respective utility.
Propinquity can mean physical proximity, a kinship between people, or a similarity in nature between things ("like-attracts-like"). Two people living on the same floor of a building, for example, have a higher propinquity than those living on different floors, just as two people with similar political beliefs possess a higher propinquity than ...
The Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) is a multi-criteria decision analysis method, which was originally developed by Ching-Lai Hwang and Yoon in 1981 [1] with further developments by Yoon in 1987, [2] and Hwang, Lai and Liu in 1993. [3]
Voters rank candidates by proximity, i.e. the closest candidate is their first preference, the second-closest is their second preference, and so on. Then, the median voter theorem says that the candidate closest to the median voter is a majority-preferred (or Condorcet) candidate. In other words, this candidate preferred to any one of their ...
Hyperbolic discounting, where discounting is the tendency for people to have a stronger preference for more immediate payoffs relative to later payoffs. Hyperbolic discounting leads to choices that are inconsistent over time—people make choices today that their future selves would prefer not to have made, despite using the same reasoning. [ 51 ]
Proximity bias refers to the cognitive bias that people have a preference for things that are close in time and space. [ 1 ] The common proverb , out of sight, out of mind , is a reflection proximity bias.
The refrain of parents is “I love all my children equally.” But not all kids get treated equally. Experts explain the impact of preferential treatment in a family.
The principles of similarity and proximity often work together to form a Visual Hierarchy. Either principle can dominate the other, depending on the application and combination of the two. For example, in the grid to the left, the similarity principle dominates the proximity principle; the rows are probably seen before the columns.