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This is in contrast to willingness to pay (WTP), which is the maximum amount of money a consumer (a buyer) is willing to sacrifice to purchase a good/service or avoid something undesirable. [1] The price of any transaction will thus be any point between a buyer's willingness to pay and a seller's willingness to accept; the net difference is the ...
An erosion gully in Australia caused by rabbits, an unintended consequence of their introduction as game animals. In the social sciences, unintended consequences (sometimes unanticipated consequences or unforeseen consequences, more colloquially called knock-on effects) are outcomes of a purposeful action that are not intended or foreseen.
Adverse effects, like therapeutic effects of drugs, are a function of dosage or drug levels at the target organs, so they may be avoided or decreased by means of careful and precise pharmacokinetics, the change of drug levels in the organism in function of time after administration. Adverse effects may also be caused by drug interaction. This ...
“You can laugh, roll your eyes, sigh, ... But we are fine with change and technology. We have experienced more change than you ever will.”
The same change in price framed differently, for example as a $5 discount or as a $5 surcharge avoided, has a significant effect on consumer behavior. [16] Although traditional economists consider this " endowment effect ", and all other effects of loss aversion, to be completely irrational , it is important to the fields of marketing and ...
The adverse outcome (black) risk difference between the group exposed to the treatment (left) and the group unexposed to the treatment (right) is −0.25 (RD = −0.25, ARR = 0.25). The risk difference (RD), excess risk , or attributable risk [ 1 ] is the difference between the risk of an outcome in the exposed group and the unexposed group.
The Leapfrog Group has announced that they will work with hospitals, health plans and consumer groups to advocate reducing payment for "never events", and will recognize hospitals that agree to certain steps when a serious avoidable adverse event occurs in the facility, including notifying the patient and patient safety organizations, and ...
The change of life concept is the subjective factor of the change of consumer awareness. As people's living standards and incomes continue to increase, people's life concepts are constantly changing. [57] Differences in consumer personality are the internal motivations for changes in consumer awareness.