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In psychology, the take-the-best heuristic [1] is a heuristic (a simple strategy for decision-making) which decides between two alternatives by choosing based on the first cue that discriminates them, where cues are ordered by cue validity (highest to lowest). In the original formulation, the cues were assumed to have binary values (yes or no ...
Aversion means opposition or repugnance. The following are different forms of aversion: Ambiguity aversion; Brand aversion; Dissent aversion in the United States of America; Endowment effect, also known as divestiture aversion; Food aversion; Inequity aversion; Loss aversion; Risk aversion; Taste aversion; Work aversion; Aversion may also refer ...
The distinction between ambiguity aversion and risk aversion is important but subtle. Risk aversion comes from a situation where a probability can be assigned to each possible outcome of a situation and it is defined by the preference between a risky alternative and its expected value. Ambiguity aversion applies to a situation when the ...
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]
A famous loss-aversion experiment is to offer a subject two options: They can either either receive something like $30 in guaranteed money — or a coin flip where they can receive either $100 or ...
However, if the animal is given the drug and then the experimenter implements a sufficient delay so that the animal is experiencing the negative aftereffects of the drug, conditioned place aversion is more likely to occur. [1] The timing of these events can be manipulated by the experimenter in order to condition place preference or avoidance. [1]
"If the food aversion is about a preference, then it’s probably not an eating disorder. For example, I love mushrooms, but many of my friends hate them," she says.
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