
Microeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-1260566642
Microeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-1260566642 Exercise 1
In which of the following cases is time inconsistency likely to be at work?
a. A child plans to become a doctor when he grows up, but a month later reads a book about firefighters and decides to become a firefighter instead.
b. A student keeps intending to finish reading War and Peace- next week.
c. A parent plans to enroll his child in art class but enrolls her in dance class instead.
d. A beginning piano player plans to practice three times a week but frequently practices only once a week.
a. A child plans to become a doctor when he grows up, but a month later reads a book about firefighters and decides to become a firefighter instead.
b. A student keeps intending to finish reading War and Peace- next week.
c. A parent plans to enroll his child in art class but enrolls her in dance class instead.
d. A beginning piano player plans to practice three times a week but frequently practices only once a week.
Explanation
Time Inconsistency:
Time inconsistency ...
Microeconomics 1st Edition by Dean Karlan,Jonathan Morduch
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