Question: Confronted with a choice between $50 today or $100 one year from now, economic experiments suggest that the vast majority of people will take will

Confronted with a choice between $50 today or $100 one year from now, economic experiments suggest that the vast majority of people will take will take the $50 today. At the same time, economic experiments show that most people will opt to take $100 in ten years over $50 in nine years. Is such behavior rational? Explain why or why not.

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