The ________ accommodates a much broader range of observed behavior than traditional economic models, but has been criticized because virtually any bizarre behavior can be explained by assuming people have a sufficiently strong taste for it.
A)adaptive rationality standard
B)availability heuristic
C)ultimatum bargaining game
D)present aim standard of rationality

Question

Quizplus · Accepted Answer

The present aim standard of rationality accommodates a much broader range of observed behavior than traditional economic models because it assumes that people efficiently pursue whatever goal they happen to have at the time. This model has been criticized, however, for being too flexible.

The ________ Accommodates a Much Broader Range of Observed Behavior