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In cognitive science and behavioral economics, loss aversion refers to a cognitive bias in which the same situation is perceived as worse if it is framed as a loss, rather than a gain. [ 1 ] [ 2 ] It should not be confused with risk aversion , which describes the rational behavior of valuing an uncertain outcome at less than its expected value .
In other words, someone who has more money has a lower desire for a fixed amount of gain (and lower aversion to a fixed amount of loss) than someone who has less money. The theory continues with a second concept, based on the observation that people attribute excessive weight to events with low probabilities and insufficient weight to events ...
Zero-sum thinking perceives situations as zero-sum games, where one person's gain would be another's loss. [1] [2] [3] The term is derived from game theory. However, unlike the game theory concept, zero-sum thinking refers to a psychological construct—a person's subjective interpretation of a situation. Zero-sum thinking is captured by the ...
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This glossary of biology terms is a list of definitions of fundamental terms and concepts used in biology, the study of life and of living organisms.It is intended as introductory material for novices; for more specific and technical definitions from sub-disciplines and related fields, see Glossary of cell biology, Glossary of genetics, Glossary of evolutionary biology, Glossary of ecology ...
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Military code word used in the Soviet Union and the post-Soviet states referring to the transportation of military casualties Cark-it [4] To die Informal, another version of 'croaked it'; common in UK, Ireland, Australia & New Zealand The guy was running, had a heart attack and carked it. Cash in one's chips [2] To die Informal, euphemistic [5]
According to J.P. Morgan Chase and Co. and the nonprofit advocacy group Consumer Action, a reasonable money-life balance considers the positive emotional benefits that go along with behaving ...