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Charge-off. A charge-off or chargeoff is a declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected. This occurs when a consumer becomes severely delinquent on a debt. Traditionally, creditors make this declaration at the point of six months without payment. A charge-off is a form of write-off .
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]
Hawthorne effect. The Hawthorne effect is a type of human behavior reactivity in which individuals modify an aspect of their behavior in response to their awareness of being observed. [ 1][ 2] The effect was discovered in the context of research conducted at the Hawthorne Western Electric plant; however, some scholars think the descriptions are ...
Flashbulb memory. A flashbulb memory is a vivid, long-lasting memory about a surprising or shocking event that has happened in the past. [1] [2] The term "flashbulb memory" suggests the surprise, indiscriminate illumination, detail, and brevity of a photograph; however, flashbulb memories are only somewhat indiscriminate and are far from ...
Conjunction fallacy. The conjunction fallacy (also known as the Linda problem) is an inference that a conjoint set of two or more specific conclusions is likelier than any single member of that same set, in violation of the laws of probability. It is a type of formal fallacy .
Instinctive drift, alternately known as instinctual drift, is the tendency of an animal to revert to unconscious and automatic behaviour that interferes with learned behaviour from operant conditioning. [1] [2] Instinctive drift was coined by Keller and Marian Breland, former students of B.F. Skinner at the University of Minnesota, describing ...
From the bank's point of view, your debit card account is the bank's liability. A decrease to the bank's liability account is a debit. From the bank's point of view, when a credit card is used to pay a merchant, the payment causes an increase in the amount of money the bank is owed by the cardholder. From the bank's point of view, your credit ...
The amount is the sum of two numbers: the average fee that a bank charges its customers who use an ATM outside of its network ($1.58) plus the average ATM surcharge from the ATM’s owner ($3.15 ...