Search results
Results From The WOW.Com Content Network
t. e. The theory of consumer choice is the branch of microeconomics that relates preferences to consumption expenditures and to consumer demand curves. It analyzes how consumers maximize the desirability of their consumption (as measured by their preferences subject to limitations on their expenditures), by maximizing utility subject to a ...
v. t. e. A massively multiplayer online role-playing game ( MMORPG) is a video game that combines aspects of a role-playing video game and a massively multiplayer online game . As in role-playing games (RPGs), the player assumes the role of a character (often in a fantasy world or science-fiction world) and takes control over many of that ...
A more controversial third paradigm used to elicit the endowment effect is the mere ownership paradigm, primarily used in experiments in psychology, marketing, and organizational behavior. In this paradigm, people who are randomly assigned to receive a good ("owners") evaluate it more positively than people who are not randomly assigned to ...
Utility maximization is an important concept in consumer theory as it shows how consumers decide to allocate their income. Because consumers are modelled as being rational, they seek to extract the most benefit for themselves. However, due to bounded rationality and other biases, consumers sometimes pick bundles that do not necessarily maximize ...
Although the term resistance as it is known today in psychotherapy is largely associated with Sigmund Freud, the idea that some patients "cling to their disease" [3] was a popular one in medicine in the nineteenth century, and referred to patients whose maladies were presumed to persist due to the secondary gains of social, physical, and financial benefits associated with illness. [4]
Functional attitude theory (FAT) suggests that beliefs and attitudes are influential to various psychological functions. Attitudes can be influential on many processes such as being utilitarian (useful), social, relating to values, or a reduction of cognitive dissonance. They can be beneficial and help people interact with the world.
Consumer value is used to describe a consumer's strong relative preference for certain subjectively evaluated product or service attributes. [1] [2] [3] [4]The construct of consumer value has widely been considered to play a significant role in the success, competitive advantage and long-term success of a business, and is the basis of all marketing activities. [5]
Reciprocity (social psychology) In social psychology, reciprocity is a social norm of responding to a positive action with another positive action, rewarding kind actions. As a social construct, reciprocity means that in response to friendly actions, people are frequently much nicer and much more cooperative than predicted by the self-interest ...