Procrastination,addiction,and honesty
A)may be explained by preferences that are not transitive
B)violate the economist's assumption that "more is better"
C)help to explain why the substitution effect is more powerful than the income effect
D)are often inconsistent with narrowly defined rationality
E)are inferior economic "goods".

Question

Quizplus · Accepted Answer

Procrastination and addiction involve irrational behavior that goes against narrow definitions of rationality. Honesty may also be considered irrational if it goes against self-interest or the desire to maximize utility. These behaviors may be better explained by behavioral economics, which takes into account the limitations of human decision-making.

Procrastination,addiction,and Honesty