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Mason Terrell
Business
7 April, 02:44
Something that encourages specific behavior
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Karma Kline
7 April, 02:50
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Some core ideas in behavioral economics focus on people's propensity to do nothing, as evident in default bias and status quo bias. Inaction may be due to a number of factors, including inertia or anticipated regret. However, sometimes people have an impulse to act in order to gain a sense of control over a situation and eliminate a problem. This has been termed the action bias (Patt & Zeckhauser, 2000). For example, a person may opt for a medical treatment rather than a no-treatment alternative, even though clinical trials have not supported the treatment's effectiveness.
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Susan Russell
7 April, 03:12
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Incentive
Something that encourages you to behave in a particular way
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