Search results
Results from the WOW.Com Content Network
Lexical threshold" negative utilitarianism says that there is some disutility, for instance some extreme suffering, such that no positive utility can counterbalance it. [24] 'Consent-based' negative utilitarianism is a specification of lexical threshold negative utilitarianism, which specifies where the threshold should be located.
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]
In economics, utility is a measure of a certain person's satisfaction from a certain state of the world. Over time, the term has been used with at least two meanings. In a normative context, utility refers to a goal or objective that we wish to maximize, i.e., an objective function.
The Dark (or D) Factor of Personality [1] is a basic psychological personality trait and thus relatively consistent across situations and stable across time. [2] Elevated levels in D predispose individuals towards a broad range of socially and ethically aversive thoughts and behaviors, such as aggression, bullying, cheating, crime, stealing, vandalism, violence, and many others.
In the study of economics, the term marginal refers to a small change, starting from some baseline level. Philip Wicksteed explained the term as follows: . Marginal considerations are considerations which concern a slight increase or diminution of the stock of anything which we possess or are considering. [4]
Robert Nozick, a twentieth century American philosopher, coined the term "utility monster" in response to Jeremy Bentham's philosophy of utilitarianism.Nozick proposed that accepting the theory of utilitarianism causes the necessary acceptance of the condition that some people would use this to justify exploitation of others.
Loss aversion is a cognitive bias where people fear losses more than they value gains, influencing decision-making.
The General Theory of Employment, Interest and Money is a book by English economist John Maynard Keynes published in February 1936. It caused a profound shift in economic thought, [1] giving macroeconomics a central place in economic theory and contributing much of its terminology [2] – the "Keynesian Revolution".