Magdalen, Miriam, and Mary June were asked to consider two different cash flows: $500 that they could
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Magdalen, Miriam, and Mary June were asked to consider two different cash flows: $500 that they could receive today and $1000 that would be received 3 years from today. Magdalen wanted the $500 dollars today, Miriam chose to collect $1000 in 3 years, and Mary June was indifferent between these two options. Can you offer an explanation of the choice made by each woman?
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It is entirely possible that different decision makers will make a different choice in this situatio...View the full answer
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Muhammad Umair
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