Bob needs to decide whether to go home or go to the library. At home, his menu is H : = {a,b,c} where a is study, b is watch TV, and c is surf the Internet. In the library, his menu is L = {a, c}. Let u(a) = 10, u(b) = 0, u(c) = 2 and v(a) = 0, v(b) = 8 and v(c) = 4. Then the multi-self model implies that Bob will go to the library and surf the Internet there Bob will go to the library and study there Bob will go home and study Bob will go home and watch TV
Bob needs to decide whether to go home or go to the library. At home, his menu is H : = {a,b,c} where a is study, b is watch TV, and c is surf the Internet. In the library, his menu is L = {a, c}. Let u(a) = 10, u(b) = 0, u(c) = 2 and v(a) = 0, v(b) = 8 and v(c) = 4. Then the multi-self model implies that Bob will go to the library and surf the Internet there Bob will go to the library and study there Bob will go home and study Bob will go home and watch TV
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter4: Going Into Debt
Section: Chapter Questions
Problem 2AA
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
Transcribed Image Text:Bob needs to decide whether to go home or go to the library.
At home, his menu is H = {a,b,c}
where a is study, b is watch TV, and c is surf the Internet.
In the library, his menu is L = {a,c}.
Let u(a) = 10, u(b) = 0, u(c) = 2 and v(a) = 0, v(b) = 8 and v(c) = 4.
Then the multi-self model implies that
Bob will go to the library and surf the Internet there
Bob will go to the library and study there
Bob will go home and study
Bob will go home and watch TV

Transcribed Image Text:Credit card borrowing can be reduced by which of the following policies?
increasing rewards on credit cards
educating people about self-control problems and providing them with commitment
opportunities
marketing with discounts and promotions
all of the above
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