Psychology

The Big Five Personality Traits Model
The Big Five Personality Traits Model

The Big Five Personality Traits Model explains this relationship in detail by dividing personality traits in dimensions. In this article, we review five key dimensions of people’s personalities.

How the Endowment Effect can Affect Businesses
How the Endowment Effect can Affect Businesses

Businesses can be affected due to consumer behavior that they might find hard to predict. Many theories, models and research have long tried to predict motivations of consumers for buying goods or services based on consumer preferences

A Quick Read on Prospect Theory and Loss Aversion
A Quick Read on Prospect Theory and Loss Aversion

For a consumer, economic decisions are based on certain types of behavior. Prospect Theory or the loss-aversion theory in behavioral economics and behavioral finance, aims to determine people’s decision making and their tendency for loss aversion.