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PSYC 315 Vocab 9b

Vocabulary for Learning Chapter 9b

QuestionAnswer
Behavioral Economics Use of economic concepts (price, substitute commodity, etc.) and principles (e.g., marginal utility) to predict, control, and analyze behavior of organisms in choice situations
Demand Curve Mathematical curve showing how consumption decreases with price. When consumption of commodity (reinforcer) rapidly decreases with price, commodity is said to be elastic. Luxury items (European vacation) are highly elastic, being sensitive to price.
Substitutability
Delay Discounting Involves decisions between small, immediate and large, delayed rewards. If watching your weight, you often must choose between immediate reinforcement from chocolate or long-term reinforcement of bodyweight loss and improved health.
Hyperbolic Discounting Equation
Impulsive Behavior
Self-Control
Ainslie-Rachlin Principle
Preference Reversal
Commitment Response Behavior emitted at time prior to choice point that eliminates or reduces probability of impulsive behavior. Student invites classmate to study Friday night (commitment responses) ensures she will "hit the books" and give up partying when choice arrives.
Power Law
Bias In generalized matching equation, response bias (k) refers to some unknown asymmetry between alternative in a given experiment that affects preference over and above the relative rates of reinforcement (Baum, 1974).
Overmatching
Undermatching
Generalized Matching Equation
Log-Linear Matching Equation To write matching law as straight line. log(Ba/Bb) = Logk + [a*log(Ra/Rb)]. In this form, log(Ba/Bb) is Y variable and log (Ra/Rb) is X variate. Constants an and log k are slope and intercept respectively.
Created by: Ckitts
 

 



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