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Asked Oct 7, 2019
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Peer pressure is an important influence on the behavior of youngsters. For instance, many preteens begin smoking because their friends pressure them into being “cool” by smoking. Using utility theory, how would you explain peer pressure? How would this compare with the explanations provided by behavioral economics and neuroeconomics?

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The peer pressure is defined influence that has been created on an individual or a group of people who have a socially acceptable behavior. It is also defined as a utility consumption, which is based on the given tastes and preferences as per th...

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