Gene plays another hour of computer games rather than study for the hour even though he knows that the next day when he takes his test he will regret his decision.Gene is showing
A)the endowment effect.
B)bounded rationality.
C)bounded self-interest.
D)bounded willpower.
E)bad judgment.

Question

Quizplus · Accepted Answer

Gene is exhibiting bounded willpower because he is choosing short-term pleasure (playing computer games) over the long-term benefit (doing well on his test). He knows he will regret it later but is not able to resist the temptation of immediate gratification.

Gene Plays Another Hour of Computer Games Rather Than Study