What is a defining characteristic of Homo economicus?
A) He changes his decisions base on context"
B) He desires to maximize gains and minimize losses"
C) He will buy a good expecting to sell it for higher price"
D) He often gambles for large but unlikely rewards"
Correct Answer:
Verified
Q32: Jeremy Bentham is the philosopher behind the
Q33: What does utilitarianism state about human decision
Q34: What is expected utility?
A)How often we expect
Q35: Decision models based on utility often assume
Q36: The rational choice theory assumes we are
Q38: Rational choice theory assumes that a human
Q39: What tends to happen when humans are
Q40: What is a relative preference?
A)You always choose
Q41: You are asked whether you would prefer
Q42: What is an absolute preference?
A)Your choice may
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents