Question: Suppose your art history professor has a small personal art collection, including some works by a famous artist. She bought this artists paintings at modest

Suppose your art history professor has a small personal art collection, including some works by a famous artist. She bought this artist’s paintings at modest price, before he became well known. One of the paintings is now worth $2 million. When you ask the professor whether she would buy it now for $2 million, she says she wouldn’t. Is the professor’s decision making consistent? Why or why not?

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