Consider this argument: People have an array of decision-making biases, which can give rise to bad decisions.

Fantastic news! We've Found the answer you've been seeking!

Question:

Consider this argument: "People have an array of decision-making biases, which can give rise to "bad" decisions. Hence people's welfare can be improved with "nudges"."

Are there problems with the argument?

Related Book For answer-question

Microeconomics An Intuitive Approach with Calculus

ISBN: 978-0538453257

1st edition

Authors: Thomas Nechyba

See More Books

Posted Date: Mar 12, 2024 01:29 AM

See More Questions

Mr Talich the president of Talich Fabricating Inc. has asked you to prepare a report on the performance of the company for his upcoming appointment with Ted Heath. Mr Heath is the
"internet radios" for streaming audio, and personal video recorders and players. Describe design and evaluation processes that could be used by a start-up company to improve the usability of such...
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
Ivanhoe Company was formed on July 1, 2018 It was authorized to issue 285,500 shares of $10 par value common stock and 95,400 shares of 8 $25 par value, cumulative and nonparticipating preferred...
Roland had a taxable estate of $5.5 million when he died this year. Calculate the amount of estate tax due (if any) under the following alternatives. a. Roland's prior taxable gifts consist of a...
The financial statements of Hernandez & Son, Inc., include the following items: Requirements Compute the following ratios for the current year: (a) Current ratio, (b) Quick ratio, (c) Cash conversion...
Problem 8 is the same as problem 7 with respect to initial measurement of the ARO liability. Now assume that Tadpoles credit standing improves over time, causing the credit-adjusted risk-free rate to...
State whether the following provisions impair or preclude negotiability, the instrument in each instance being otherwise in proper form. Answer each statement with either the word Negotiable or...
Suppose that Jane believes that lying is wrong, whereas Joe believes that lying is not wrong. What does Error imply about this disagreement?
A candy shop has candy worth $25 per pound that the owner wishes to mix with 52 pounds of candy worth $69 per pound to get a mixture that can be sold for $40 per pound. How many pounds of the $25...
Which of the following statements would be true concerning budgetary integration? a. The integration of budgetary accounts into the general ledger does not affect the asset and liability accounts. b....
A municipality's issuance of general obligation serial bonds to finance the construction of a fire station requires accounting recognition in the a. General Fund. b. Capital Projects and General...
The town of Brittainville has two Enterprise Fundsone for its water and wastewater operations and another for its cable television operation. The Water and Wastewater EnterpriseFund issued...
Which of the following transactions requires entries in an Expenditures Subsidiary Ledger? a. Legal adoption of the General Fund budget. b. Purchase of equipment on account. e Accrual of salaries and...
On January 1, 20X7, Clyde County issued $100 million of 5%, 20-year bonds at 102. Interest is payable semiannually. The proceeds were restricted for the construction of a new county water...
V12 V3 2) Consider the flow of combustion gases, through a normal turbine stage such that the flow angle at the exit of the rotor is the same as that entering the stator, and ai = as. The inlet total...
Tanaka Company's cost and production data for two recent months included the following: March April Production (units).........300................600 Rent.....................$1,800............$1,800...
In our development of producer theory, we have found it convenient to assume that the production technology is homothetic. A: In each of the following, assume that the production technology you face...
In our treatment of leisure/consumption tradeoffs, we have assumed that you are deriving income solely from wages. A: Suppose now that your grandparents set up a trust fund that pays you $300 per...
Suppose you and I consider the following game: We both put $y on the table, then flip a coin. If it comes up heads, I get everything on the table, and if it comes up tails, you get everything on the...
Determine the solutions of the difference equations below, supposing that the systems they represent are initially relaxed: (a) \(y(n)-\frac{1}{\sqrt{2}} y(n-1)+y(n-2)=2^{-n} \sin \left(\frac{\pi}{4}...
Find the general solution for the difference equation in Example 1.9 when $a=b$. Example 1.9. Solve the difference equation y(n) + ay(n 2) = b" sin(n)u(n) assuming that ab and y(n) = 0, for n < 0....
Show that a system described by Equation (1.63) is linear if and only if the auxiliary conditions are zero. Show also that the system is time invariant if the zero auxiliary conditions are defined...

Consider this argument: People have an array of decision-making biases, which can give rise to bad decisions.

Question:

Expert Answer:

The argument you presented suggests that peoples decisionmaking biases can lead to bad decisions and therefore their welfare can be improved by using ... View the full answer

Microeconomics An Intuitive Approach with Calculus

Students also viewed these general management questions