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Economics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0073511498Economics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0073511498 Exercise 13
Suppose you have plans to save 5 percent of your salary next year. Then your company goes bankrupt, your pay gets slashed by 30 percent, and you end up not saving at all. Is this an example of time inconsistency? Why or why not?
Explanation
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Time inconsistency:
An individual or an...
Economics 1st Edition by Dean Karlan,Jonathan Morduch
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