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Prospect theory. Daniel Kahneman, who won the 2002 Nobel Memorial Prize in Economics for his work developing prospect theory. Prospect theory is a theory of behavioral economics, judgment and decision making that was developed by Daniel Kahneman and Amos Tversky in 1979. [ 1] The theory was cited in the decision to award Kahneman the 2002 Nobel ...
Weber's law. Ernst Heinrich Weber (1795–1878) was one of the first persons to approach the study of the human response to a physical stimulus in a quantitative fashion. Fechner was a student of Weber and named his first law in honor of his mentor, since it was Weber who had conducted the experiments needed to formulate the law.
Today, where a definition of the moment of death is required, doctors and coroners usually turn to "brain death" or "biological death" to define a person as being dead; [25] people are considered dead when the electrical activity in their brain ceases. [26] It is presumed that an end of electrical activity indicates the end of consciousness. [27]
Optometry is a healthcare profession that is autonomous, educated, and regulated (licensed/registered), and optometrists are the primary healthcare practitioners of the eye and visual system who provide comprehensive eye and vision care, which includes refraction and dispensing, detection/diagnosis and management of disease in the eye, and the ...
In the most familiar acuity test, a Snellen chart is placed at a standard distance: 6 metres. At this distance, the symbols on the line representing "normal" acuity subtend an angle of five minutes of arc, and the thickness of the lines and of the spaces between the lines subtends one minute of arc. This line, designated 6/6 (or 20/20), is the ...
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.
An odds ratio (OR) is a statistic that quantifies the strength of the association between two events, A and B. The odds ratio is defined as the ratio of the odds of event A taking place in the presence of B, and the odds of A in the absence of B. Due to symmetry, odds ratio reciprocally calculates the ratio of the odds of B occurring in the presence of A, and the odds of B in the absence of A.
Mental chronometry is the scientific study of processing speed or reaction time on cognitive tasks to infer the content, duration, and temporal sequencing of mental operations. Reaction time (RT; also referred to as " response time ") is measured by the elapsed time between stimulus onset and an individual's response on elementary cognitive ...