Dealing With Complexity Flashcards
Incentive (ɪnˈsen.tɪv)
something that encouragea personto do something
Insight /ˈɪn.saɪt/
aclear,deep, and sometimessuddenunderstandingof acomplicatedproblemorsituation
make a killing
to earn a lot of money in a short time and with little effort
iterative /ˈɪt.ər.ə.tɪv/
doing something again and again, usually to improve it
bounded rationality
ECONOMICS
the theory that people can understand only a limited amount of information within a limited amount of time, and for this reason they do not always make the best decisions, especially in complicated situations:
Tractability /ˌtræk.təˈbɪl.ə.ti/
the quality of being tractable (= easily dealt with, controlled, or persuaded)
inflated
/ɪnˈfleɪ.tɪd /
Inflatedprices,costs,numbers, etc. arehigherthan they should be, orhigherthanpeoplethinkisreasonable
anticipate
/ænˈtɪs.ɪ.peɪt/
to imagine or expect that something will happen
Payoff
ˈpeɪ.ɒf
an advantage gained as the result of a decision, series of actions, etc
Plea bargain
ˈpli ˌbɑr·ɡən
an agreement to allow someone accused of a crime to admit to being guilty of a less serious crime in order to avoid being tried for the more serious one
Joint /dʒɔɪnt/
belonging to or shared between two or more people
Equilibrium /ˌek.wɪˈlɪb.ri.əm/
The sate of balance
Mbps
Millions of bits per second
free rider
a person or company that gets an advantage without paying for it or earning it
shorthand
a system of fast writing, using lines and symbols to represent letters, words, and phrases