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Suppose a Person Prefers $100 Today to $150 One Year

Question 36

Multiple Choice

Suppose a person prefers $100 today to $150 one year from now but prefers $150 in seven years to $100 in six years. This is an example of ____.

A) sunk cost fallacy
B) time inconsistency
C) falling prey to framing effects
D) overconfidence

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