When an individual focuses on short-term aspects of a decision at the expense of the longterm aspects, then this is called:
A) Addiction.
B) Melioration.
C) Loss Aversion.
D) Risk Aversion.

Question

Quizplus · Accepted Answer

Melioration refers to the tendency of an individual to opt for immediate rewards at the expense of long-term benefits, often leading to suboptimal decision-making outcomes.

When an Individual Focuses on Short-Term Aspects of a Decision