Motivational and Emotional Inluences on Decision Making
6 important questions on Motivational and Emotional Inluences on Decision Making
What is 'declining marginal utility of gains'?
The more we get of something, the less pleasure it provides us
How should knowledge of the impact of reference points affect your decisions?
First, when facing a risky decision, you should identify your reference point. Next, consider whether other reference points exist and whether they are just reasonable. If the answer is yes, think about your decision from multiple perspectives and examine any contradictions that emerge. At this point, you will be prepared to make your decisions with a full awareness of the alternative frames in which the problem could have been presented.
Two types of prefernces?
Want and should
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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Students that study with Study Smart get better grades. The system applies all the learning methods in such a way that both well-performing students and students who struggle perform much better.
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Self-estemation diveded into two?
1. Overestimation - chances of success
2. Overplacement - think that you are better than others
What is transactional utility?
It refers to the quality of the deal that you receive, evaluated in reference to "what the item should cost".
What is acquisition utility?
It describes the value you place on a commodity
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The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
