Multiple Choice
The axiom that states that, given two goods separated by a fixed time but both in the future, relative preference between those goods is unaffected by how far in the future they may be is called the
A) stationery axiom
B) stationarity axiom
C) hyperbolic axiom
Correct Answer:
Verified
Correct Answer:
Verified
Q20: What type of dynamic intertemporal choice problem
Q21: In the Loewenstein and Sicherman survey specifying
Q22: When shopping for the best price on
Q23: The wage set by a worker searching
Q24: Given a positive discounting factor, the best
Q26: Describe a commitment device designed to counteract
Q27: Let K = search costs, P₂ =
Q28: To better understand the workings of the
Q29: A decision maker with hyperbolic preferences is
Q30: Signing up for an automatic retirement savings