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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 ...
Frederick Herzberg. Frederick Irving Herzberg (April 18, 1923 – January 19, 2000 [1]) was an American psychologist who became one of the most influential names in business management. [2][3] He is most famous for introducing job enrichment and the Motivator-Hygiene theory. His 1968 publication "One More Time, How Do You Motivate Employees?"
Elliott Jaques (January 18, 1917 – March 8, 2003) was a Canadian psychoanalyst, social scientist and management consultant known as the originator of concepts such as corporate culture, midlife crisis, fair pay, maturation curves, time span of discretion (level of work) [1] and requisite organization, as a total system of managerial organization.
Pain of paying. The pain of paying is a concept from Behavioral Economics and Behavioral Science, coined in 1996 by Ofer Zellermayer, whilst writing his PhD dissertation at the University of Carnegie Mellon, under supervision of George Loewenstein. The term refers to the negative emotions experienced during the process of paying for a good or ...
Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [1]
In psychology, cognitivism is a theoretical framework for understanding the mind that gained credence in the 1950s. The movement was a response to behaviorism, which cognitivists said neglected to explain cognition. Cognitive psychology derived its name from the Latin cognoscere, referring to knowing and information, thus cognitive psychology ...
23 April 1959. (1959-04-23) (aged 73) Seattle, Washington. Known for. One Trial Theory. Edwin Ray Guthrie (/ ˈɡʌθri /; January 9, 1886 – April 23, 1969) was a behavioral psychologist who began his career as a mathematics teacher and philosopher. But, he became a psychologist at the age of 33. He spent most of his career at the University ...
Multi-store model: Atkinson and Shiffrin's (1968) original model of memory, consisting of the sensory register, short-term store, and long-term store. The model of memories is an explanation of how memory processes work. The three-part, multi-store model was first described by Atkinson and Shiffrin in 1968, [1] though the vac idea of distinct ...