Gene Plays Another Hour of Computer Games Rather Than Study

question 21

Multiple Choice

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.

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Definitions:

Confession of Judgment

A legal agreement in which a debtor permits a creditor to obtain a judgment against them without a trial.

Undertaking

A formal pledge or promise, often in a legal context, indicating an agreement to perform a particular action or task.

Substitute for Cash

Refers to alternative forms of payment that are not physical cash, such as checks, credit cards, or electronic transfers.

Coffee Shop

A type of retail establishment that primarily serves coffee and other beverages, along with snacks or light meals.