word
mental accounting
MEN-tul ah-KOWN-ting
ˈmɛntəl əˈkaʊntɪŋListen
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Syllable breakdown
mentalaccounting
Dictionary meaning
psychological tendency documented by Richard Thaler in which people treat money differently depending on its source, intended use, or the account it is held in; leads to irrational behaviors such as spending a tax refund more freely than earned wages of equal value, or refusing to sell a stock in a designated retirement account while carrying high-interest debt
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