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2. Comment on whether or not the statement "the act of donation for poor people by an economic agent is not rational economic behavior" is true in the following three cases, and explain your answer. (A) When the economic agent is a selfish economic man. (B) When the economic agent has social preferences.

2. Comment on whether or not the statement "the act of donation for poor people by an economic agent is not rational economic behavior" is true in the following three cases, and explain your answer. (A) When the economic agent is a selfish economic man. (B) When the economic agent has social preferences.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1. Define worldview and provide one example where worldview can influence economic behavior. 2. Comment on whether or not the statement "the act of donation for poor people by an economic agent is not rational economic behavior" is true in the following three cases, and explain your answer. (A) When the economic agent is a selfish economic man. (B) When the economic agent has social preferences. (C) When the economic agent has preferences that solely depend on his own consumption in the present and future times, but has a worldview that the probability of more consumption in heaven in the future increases when he makes donation.
Transcribed Image Text:1. Define worldview and provide one example where worldview can influence economic behavior. 2. Comment on whether or not the statement "the act of donation for poor people by an economic agent is not rational economic behavior" is true in the following three cases, and explain your answer. (A) When the economic agent is a selfish economic man. (B) When the economic agent has social preferences. (C) When the economic agent has preferences that solely depend on his own consumption in the present and future times, but has a worldview that the probability of more consumption in heaven in the future increases when he makes donation.
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