PRIN OF MICROECONOMICS
2nd Edition
ISBN: 9780393914085
Author: coppock
Publisher: Norton, W. W. & Company, Inc.
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Question
Chapter 17, Problem 9SP
To determine
Behavioral economic concept involved with mortality and survival rates.
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Students have asked these similar questions
What does behavioral economics have to say about each of the following statements? a. “Nobody is truly charitable—they just give money to show off.” b. “America has a ruthless capitalist system. Considerations of fairness are totally ignored.” c. “Selfish people always get ahead. It’s like nobody even notices!”
what are some keypoints about behavioral economics?
What would behavioral economics say about each of the following statements?
a. “Nobody is truly charitable-people donate money just to show off."
b. “America has a ruthless capitalist system. Considerations of fairness are totally ignored."
c. “Selfish people always get ahead. It's like nobody even notices!"
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- Why do economists say that people tend to be risk-averse?arrow_forwardIt is often costly to obtain the information necessary to make good decisions. Yet, your own interests can best be served by rationally weighing all options available to you. This requires informed decision making. Does this mean that making uninformed decisions is irrational? How do you determine how much information is the right amount?arrow_forwardEvaluate the following statement. “We shouldn’t generalize from what people do in the ultimatum game because $10 is a trivial amount of money. When larger amounts of money are on the line, people will act differently.”arrow_forward
- Behavioral economics suggests that people are more likely to take risks when given choices that are framed in terms of ________ rather than _______. (Fill in both blanks, separated by a comma.)arrow_forwardBriefly explain what is “signaling” (from an economist’s view) and how it may reduce adverse selection.arrow_forwardUnfortunately, the answer is option B. Why is your response different with answer?arrow_forward
- There is a telling joke about two economists walking down the street. They spot a $20 bill on the sidewalk. One stoops to pick it up, but the other one says, “Don’t bother; if the bill was real, someone would have picked it up already.” The lesson is clear. A strong belief in efficient markets can disable the investor and make it appear that no research effort can be justified. Do you think there are still enough anomalies in the empirical evidence to justify the search for overpriced/underpricedsecurities? Support your answer with examples and new theories in the context of Efficient Market Hypothesis.arrow_forwardWhat is moral hazard?arrow_forwardAugi carefully plans out an early morning exercise routine to lose weight and get fit. When it's time to work out, however, Augi just "does to sleep in. Behavioral economics would say that Augi weighed the costs and benefits and made a rational economic decision to sleep in. used System 1 of her brain to formulate her workout plan, but then gave in to System 2 when she chose to sleep in. used System 2 of her brain to formulate her workout plan, but then gave in to System 1 when she chose to sleep in. is fundamentally lazy and incapable of sticking to a workout plan.arrow_forward
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