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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Question

I need help with both the questions

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

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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