Expected utility hypothesisThe expected utility hypothesis is a popular concept in economics that serves as a reference guide for decision making when the payoff is uncertain. The theory describes which options rational individuals should choose in a situation with uncertainty, based on their risk aversion. The expected utility hypothesis states an agent chooses between risky prospects by comparing expected utility values (i.e. the weighted sum of adding the respective utility values of payoffs multiplied by their probabilities).
Derived functorIn mathematics, certain functors may be derived to obtain other functors closely related to the original ones. This operation, while fairly abstract, unifies a number of constructions throughout mathematics. It was noted in various quite different settings that a short exact sequence often gives rise to a "long exact sequence". The concept of derived functors explains and clarifies many of these observations. Suppose we are given a covariant left exact functor F : A → B between two A and B.
Sampling biasIn statistics, sampling bias is a bias in which a sample is collected in such a way that some members of the intended population have a lower or higher sampling probability than others. It results in a biased sample of a population (or non-human factors) in which all individuals, or instances, were not equally likely to have been selected. If this is not accounted for, results can be erroneously attributed to the phenomenon under study rather than to the method of sampling.
Emotional choice theoryEmotional choice theory (also referred to as the "logic of affect") is a social scientific action model to explain human decision-making. Its foundation was laid in Robin Markwica’s monograph Emotional Choices published by Oxford University Press in 2018. It is considered an alternative model to rational choice theory and constructivist perspectives.
Derived categoryIn mathematics, the derived category D(A) of an A is a construction of homological algebra introduced to refine and in a certain sense to simplify the theory of derived functors defined on A. The construction proceeds on the basis that the of D(A) should be chain complexes in A, with two such chain complexes considered isomorphic when there is a chain map that induces an isomorphism on the level of homology of the chain complexes. Derived functors can then be defined for chain complexes, refining the concept of hypercohomology.
Bus stopA bus stop is a place where buses stop for passengers to get on and off the bus. The construction of bus stops tends to reflect the level of usage, where stops at busy locations may have shelters, seating, and possibly electronic passenger information systems; less busy stops may use a simple pole and flag to mark the location. Bus stops are, in some locations, clustered together into transport hubs allowing interchange between routes from nearby stops and with other public transport modes to maximise convenience.
Marginal utilityIn economics, utility refers to the satisfaction or benefit that consumers derive from consuming a product or service. Marginal utility, on the other hand, describes the change in pleasure or satisfaction resulting from an increase or decrease in consumption of one unit of a good or service. Marginal utility can be positive, negative, or zero. For example, when eating pizza, the second piece brings more satisfaction than the first, indicating positive marginal utility.
CarpoolCarpooling is the sharing of car journeys so that more than one person travels in a car, and prevents the need for others to have to drive to a location themselves. By having more people using one vehicle, carpooling reduces each person's travel costs such as: fuel costs, tolls, and the stress of driving. Carpooling is also a more environmentally friendly and sustainable way to travel as sharing journeys reduces air pollution, carbon emissions, traffic congestion on the roads, and the need for parking spaces.
