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Pain of paying. The pain of paying is a concept from Behavioral Economics and Behavioral Science, coined in 1996 by Ofer Zellermayer, whilst writing his PhD dissertation at the University of Carnegie Mellon, under supervision of George Loewenstein. The term refers to the negative emotions experienced during the process of paying for a good or ...
Also known as a "measure" or "standard" of relative worth and deferred payment, a unit of account is a necessary prerequisite for the formulation of commercial agreements that involve debt. Money acts as a standard measure and a common denomination of trade. It is thus a basis for quoting and bargaining of prices.
The American Psychological Association (APA) Ethical Principles of Psychologists and Code of Conduct (for short, the Ethics Code, as referred to by the APA) includes an introduction, preamble, a list of five aspirational principles and a list of ten enforceable standards that psychologists use to guide ethical decisions in practice, research ...
Mental accounting (or psychological accounting) is a model of consumer behaviour developed by Richard Thaler that attempts to describe the process whereby people code, categorize and evaluate economic outcomes. [2] Mental accounting incorporates the economic concepts of prospect theory and transactional utility theory to evaluate how people ...
The satisfaction theory of atonement is a theory in Catholic theology which holds that Jesus Christ redeemed humanity through making satisfaction for humankind's disobedience through his own supererogatory obedience. The theory draws primarily from the works of Anselm of Canterbury, specifically his Cur Deus Homo ('Why Was God a Man?').
In psychology, punishment is the reduction of a behavior via application of an unpleasant stimulus (" positive punishment") or removal of a pleasant stimulus (" negative punishment"). Extra chores or spanking are examples of positive punishment, while removing an offending student's recess or play privileges are examples of negative punishment.
The original Simulated Shock Generator and Event Recorder, or shock box, is located in the Archives of the History of American Psychology. Later, Milgram and other psychologists performed variations of the experiment throughout the world, with similar results. [13]
A payment is the tender of something of value, such as money or its equivalent, by one party (such as a person or company) to another in exchange for goods or services provided by them, or to fulfill a legal obligation or philanthropy desire. The party making the payment is commonly called the payer, while the payee is the party receiving the ...