Psychology of Economic Decision-Making
Beneficence is the ethical principle that emphasizes the importance of acting in ways that promote the well-being and welfare of others. This concept is significant in discussions around interventions or policies designed to enhance individual choices while maintaining freedom, especially in settings where choices can lead to adverse outcomes. It involves a balance between promoting good and respecting autonomy, highlighting the responsibility of decision-makers to ensure that their actions positively impact individuals' lives.
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