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An information cascade or informational cascade is a phenomenon described in behavioral economics and network theory in which a number of people make the same decision in a sequential fashion. It is similar to, but distinct from herd behavior. [1] [2] [3] An information cascade is generally accepted as a two-step process.
Alongside the well-known stages of denial, anger, bargaining, depression, and acceptance, Kübler-Ross detailed other "stages" such as shock, partial denial, preparatory grief (also known as anticipatory grief), hope, and decathexis, which refers to the process of withdrawing emotional investment from external objects or relationships. [27]
Acceptance and commitment therapy (ACT, typically pronounced as the word "act") is a form of psychotherapy, as well as a branch of clinical behavior analysis. [1] It is an empirically-based psychological intervention that uses acceptance and mindfulness strategies [2] along with commitment and behavior-change strategies to increase psychological flexibility.
Neuroeconomics is an interdisciplinary field that seeks to explain human decision making, the ability to process multiple alternatives and to follow a course of action. It studies how economic behavior can shape our understanding of the brain, and how neuroscientific discoveries can constrain and guide models of economics. [143]
Daniel Kahneman, who won the 2002 Nobel Memorial Prize in Economics for his work developing prospect theory. Prospect theory is a theory of behavioral economics, judgment and decision making that was developed by Daniel Kahneman and Amos Tversky in 1979. [1] The theory was cited in the decision to award Kahneman the 2002 Nobel Memorial Prize in ...
Early decision (ED) or early acceptance is a type of early admission used in college admissions in the United States for admitting freshmen to undergraduate programs.It is used to indicate to the university or college that the candidate considers that institution to be their top choice through a binding commitment to enroll; in other words, if offered admission under an ED program, and the ...
Early decision is a college admission plan in which students apply earlier in the year than usual and receive their results early as well. (It is completely different from “early admission,” which is when a high school student applies to college in 11th grade and starts college without graduating from high school.)
Nudges in education are techniques used to subtly guide students towards making better choices and achieving their academic goals. These nudges are based on the principles of behavioral economics and psychology, particularly the concept of dual process theory. This theory suggests that there are two systems of thinking: System 1, which is ...