The Idea of Time Inconsistency

question 2

Multiple Choice

The idea of time inconsistency:

• A) explains how it can be rational for someone to say he's going to eat a salad for dinner each night this week and end up eating pizza four out of five nights instead.
• B) explains how it can be rational for someone to pay more for something on his credit card than if he were to pay cash for the same thing.
• C) explains why people refuse to ignore only some sunk costs.
• D) Time inconsistency doesn't explain any of these behaviors.

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Definitions:

Separate Processor

An independent processing unit dedicated to a specific task or function within a larger system.

Immediate Input

Input data or signals that are processed as soon as they are received by a system, without delay.

Mask Instruction

A mask instruction in computing or programmable logic controllers (PLCs) is used to selectively enable or disable bits in a word or byte by applying a mask pattern.

Input Scan

One of three parts of the PLC scan. During the input scan, input terminals are read and the input table is updated accordingly.