What is another word for mental accounting?
Pronunciation: [mˈɛntə͡l ɐkˈa͡ʊntɪŋ] (IPA) 
Mental accounting refers to the psychological concept of categorizing and assigning different values to a set of money based on arbitrary criteria such as its source or intended use. This can lead to irrational financial decisions and missed opportunities for savings. Synonyms for mental accounting include mental bookkeeping, mental budgeting, and mental compartmentalization. The term has also been described as cognitive accounting, referring to the cognitive processes involved in this phenomenon. Other related concepts include the endowment effect, which refers to the tendency to value something more highly simply because you own it, and loss aversion, which describes the tendency to feel more pain from losing something than pleasure from gaining it.
