The Concept of Time Inconsistency Explains

question 55

Multiple Choice

The concept of time inconsistency explains:

• A)how someone who plans to eat salad for dinner every night, but ends up eating pizza three nights in a row, can still be rational.
• B)how someone who pays more for a good using a credit card than if cash were used can still be rational.
• C)why people can ignore some sunk costs but cannot ignore others.
• D)None of these behaviors can be explained by time inconsistency.

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Definitions:

Negative Reinforcer

A stimulus whose removal immediately after a response increases the frequency of that response in the future.

Immediate Reinforcer

A reward that occurs directly following a behavior, which increases the likelihood of that behavior being repeated.

Variable-ratio Schedule

A reinforcement schedule in operant conditioning where a response is rewarded after an unpredictable number of responses, which tends to produce high and steady rates of response.

Continuous Reinforcement

A method of learning where every correct response is reinforced every time, leading to faster acquisition of behavior but quicker extinction once reinforcement stops.