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Maslow's hierarchy of needs is an idea in psychology proposed by American psychologist Abraham Maslow in his 1943 paper "A Theory of Human Motivation" in the journal Psychological Review. [1] Maslow subsequently extended the idea to include his observations of humans' innate curiosity. His theories parallel many other theories of human ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 29 September 2024. American psychologist (1908–1970) Abraham Maslow Born Abraham Harold Maslow April 1, 1908 (1908-04) Brooklyn, New York City, U.S. Died June 8, 1970 (1970-06-08) (aged 62) Menlo Park, California, U.S. Education City College of New York Cornell University University of Wisconsin Known ...
e. Behavioral economics is the study of the psychological, cognitive, emotional, cultural and social factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by classical economic theory. [1][2] Behavioral economics is primarily concerned with the bounds of rationality of economic agents.
The economics of happiness or happiness economics is the theoretical, qualitative and quantitative study of happiness and quality of life, including positive and negative affects, well-being, [1] life satisfaction and related concepts – typically tying economics more closely than usual with other social sciences, like sociology and psychology, as well as physical health.
Present bias is the tendency to settle for a smaller present reward rather than wait for a larger future reward, in a trade-off situation. [1][2] It describes the trend of overvaluing immediate rewards, while putting less worth in long-term consequences. [3] The present bias can be used as a measure for self-control, which is a trait related to ...
Neuroeconomics. Neuroeconomics is an interdisciplinary field that seeks to explain human decision-making, the ability to process multiple alternatives and to follow through on a plan of action. It studies how economic behavior can shape our understanding of the brain, and how neuroscientific discoveries can guide models of economics.
A loss of $0.05 is perceived as having a greater utility loss than the utility increase of a comparable gain. 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 ...
The two-factor model of personality is a widely used psychological factor analysis measurement of personality, behavior and temperament. It most often consists of a matrix measuring the factor of introversion and extroversion with some form of people versus task orientation.