A person is dynamically consistent if
A) His preferences over the alternatives available at some future date change as the date approaches or once it arrives
B) His preferences over the alternatives available at some future date do not change as the date approaches or once it arrives
C) He always does not want to follow through on his plans and intentions
D) He always chooses the same product
Correct Answer:
Verified
Q10: Identified departures from perfect rationality include
A) Incoherent
Q11: A person is dynamically consistent if
A) Lapses
Q12: Narrow framing
A) Refers to the observation that
Q13: The endowment effect
A) Refers to the observation
Q14: Behavioral economists view the standard economic theory
Q16: Behavioral economists view the standard economic theory
Q17: Behavioral economists
A) Rely primarily on data drawn
Q18: The endowment effect is reflected by indifference
Q19: A person is dynamically consistent if
A) His
Q20: Advantages of experiments include
A) It is easier
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