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  2. Psychological pricing - Wikipedia

    en.wikipedia.org/wiki/Psychological_pricing

    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]

  3. Pain of paying - Wikipedia

    en.wikipedia.org/wiki/Pain_of_paying

    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 ...

  4. Rumination (psychology) - Wikipedia

    en.wikipedia.org/wiki/Rumination_(psychology)

    Rumination (psychology) Rumination appears closely related to worry. Rumination is the focused attention on the symptoms of one's mental distress. In 1998, Nolen-Hoeksema proposed the Response Styles Theory. [1][2], which is the most widely used conceptualization model of rumination. However, other theories, have proposed different definitions ...

  5. Endowment effect - Wikipedia

    en.wikipedia.org/wiki/Endowment_effect

    Endowment effect. In psychology and behavioral economics, the endowment effect, also known as divestiture aversion, is the finding that people are more likely to retain an object they own than acquire that same object when they do not own it. [1][2][3][4] The endowment theory can be defined as "an application of prospect theory positing that ...

  6. Milgram experiment - Wikipedia

    en.wikipedia.org/wiki/Milgram_experiment

    Milgram experiment. The experimenter (E) orders the teacher (T), the subject of the experiment, to give what the teacher (T) believes are painful electric shocks to a learner (L), who is actually an actor and confederate. The subject is led to believe that for each wrong answer, the learner was receiving actual electric shocks, though in ...

  7. Reciprocity (social psychology) - Wikipedia

    en.wikipedia.org/.../Reciprocity_(social_psychology)

    In social psychology, reciprocity is a social norm of responding to a positive action with another positive action, rewarding kind actions. As a social construct, reciprocity means that in response to friendly actions, people are frequently much nicer and much more cooperative than predicted by the self-interest model; conversely, in response to hostile actions they are frequently much more ...

  8. Escalation of commitment - Wikipedia

    en.wikipedia.org/wiki/Escalation_of_commitment

    Escalation of commitment. Escalation of commitment is a human behavior pattern in which an individual or group facing increasingly negative outcomes from a decision, action, or investment nevertheless continue the behavior instead of altering course. The actor maintains behaviors that are irrational, but align with previous decisions and actions.

  9. Compensation (psychology) - Wikipedia

    en.wikipedia.org/wiki/Compensation_(psychology)

    Compensation (psychology) In psychology, compensation is a strategy whereby one covers up, consciously or unconsciously, weaknesses, frustrations, desires, or feelings of inadequacy or incompetence in one life area through the gratification or (drive towards) excellence in another area. Compensation can cover up either real or imagined ...