What is meant by a preference reversal?
What will be an ideal response?
Preference reversals arise from the discount weights that people put on the future. These discount weights imply that today gets much more weight than tomorrow, but tomorrow and the day after tomorrow receive the same (or nearly the same) weight.
Economics
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The main transfer programs of the U.S. government include each of the following, except:
a. social insurance. b. cash welfare or public assistance. c. in-kind transfers. d. veterans' benefits. e. employment programs.
Economics
The Federal Open Market Committee (FOMC) controls the U.S. money supply by buying and selling loans in the public loan market
a. True b. False
Economics