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Present bias is the tendency to settle for a smaller present reward rather than wait for a larger future reward, in a trade-off situation. [ 1 ] [ 2 ] It describes the trend of overvaluing immediate rewards, while putting less worth in long-term consequences. [ 3 ]
Present bias. Present bias reflects the human tendency to want rewards sooner. It describes people who are more likely to forego a greater payoff in the future in favour of receiving a smaller benefit sooner. An example of this is a smoker who is trying to quit.
Jurisprudence, also known as theory of law or philosophy of law, is the examination in a general perspective of what law is and what it ought to be.It investigates issues such as the definition of law; legal validity; legal norms and values; as well as the relationship between law and other fields of study, including economics, ethics, history, sociology, and political philosophy.
Considered "the first movement in legal theory and legal scholarship in the United States to have espoused a committed Left political stance and perspective," [1] critical legal studies was committed to shaping society based on a vision of human personality devoid of the hidden interests and class domination that CLS scholars argued are at the root of liberal legal institutions in the West. [4]
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A U.S. judge on Friday said Southwest Airlines must face a lawsuit by a prominent affirmative action opponent claiming a now-defunct program that awarded free flights to Hispanic college students ...
Law of Indonesia is based on a civil law system, intermixed with local customary law and Dutch law.Before European presence and colonization began in the sixteenth century, indigenous kingdoms ruled the archipelago independently with their own custom laws, known as adat (unwritten, traditional rules still observed in the Indonesian society). [1]
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