Asked by McKall Hulsey on May 10, 2024
Verified
Picoeconomics is a theory that emphasizes the idea that when people make decisions, they tend to overestimate the value of benefits that will occur in the future.
Picoeconomics
A branch of economic theory that explores the decision-making processes within an individual, particularly conflicts among different interests over time.
Future Benefits
Anticipated advantageous outcomes derived from current actions or investments.
- Expound on the multifarious theories of motivation and their application within organizational behavior, emphasizing expectancy theory and Herzberg's motivation-hygiene theory.
Verified Answer
SA
Sachin AgarwalMay 17, 2024
Final Answer :
False
Explanation :
Picoeconomics is actually a theory that focuses on the internal conflict within individuals between smaller, immediate rewards and larger, delayed rewards, often explaining why people might choose a smaller-sooner reward over a larger-later reward, contrary to the idea of overestimating future benefits.
Learning Objectives
- Expound on the multifarious theories of motivation and their application within organizational behavior, emphasizing expectancy theory and Herzberg's motivation-hygiene theory.
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