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Mental accounting (or psychological accounting) is a model of consumer behaviour developed by Richard Thaler that attempts to describe the process whereby people code, categorize and evaluate economic outcomes. [2] Mental accounting incorporates the economic concepts of prospect theory and transactional utility theory to evaluate how people ...
e. 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.
Global workspace theory (GWT) is a framework for thinking about consciousness proposed by cognitive scientists Bernard Baars and Stan Franklin in the late 1980s. [1] It was developed to qualitatively explain a large set of matched pairs of conscious and unconscious processes. GWT has been influential in modeling consciousness and higher-order ...
Institutions. University of Minnesota. Indiana University. Harvard University. Signature. Burrhus Frederic Skinner (March 20, 1904 – August 18, 1990) was an American psychologist, behaviorist, inventor, and social philosopher. [2][3][4][5] He was the Edgar Pierce Professor of Psychology at Harvard University from 1958 until his retirement in ...
The Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition (DSM-5), is the 2013 update to the Diagnostic and Statistical Manual of Mental Disorders, the taxonomic and diagnostic tool published by the American Psychiatric Association (APA).
Accounts clerk. v. t. e. Double-entry bookkeeping, also known as double-entry accounting, is a method of bookkeeping that relies on a two-sided accounting entry to maintain financial information. Every entry to an account requires a corresponding and opposite entry to a different account. The double-entry system has two equal and corresponding ...
Psychology is the scientific study of mind and behavior. [1] [2] Its subject matter includes the behavior of humans and nonhumans, both conscious and unconscious phenomena, and mental processes such as thoughts, feelings, and motives. Psychology is an academic discipline of immense scope, crossing the boundaries between the natural and social ...
Debits and credits occur simultaneously in every financial transaction in double-entry bookkeeping. In the accounting equation, Assets = Liabilities + Equity, so, if an asset account increases (a debit (left)), then either another asset account must decrease (a credit (right)), or a liability or equity account must increase (a credit (right)).