Diminishing Marginal Utility
In Simple Terms Diminishing Marginal Utility is a concept that describes how the satisfaction or utility you get from consuming something decreases as you consume more of it.
What is Affective Forecasting
Affective Forecasting in Simple Terms Affective forecasting refers to the process of predicting one's emotional responses to a future event. How good or bad it will make us feel and for how long. We are surprisingly bad at this.
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