Time inconsistency describes:
A)a situation in which we regret choices we make simply because of when we made the choice.
B)a situation in which we change our minds about what we want simply because of the timing of the decision.
C)our inability to correctly predict how current choices will affect us in the future.
D)our inability to make choices today that determine our actions in the future.

Question

Quizplus · Accepted Answer

Time inconsistency refers to the phenomenon where an individual's preferences change over time, particularly in a way that a decision or preference can vary depending on the timing of the decision. This often leads to a situation where decisions made for the future are not consistent with the preferences or actions when the future becomes the present.

Time Inconsistency Describes