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Suppose Our Tastes Can Be Represented by the Function u(x1,x2)=(αx1ρ+(1α)x2ρ)1/ρu \left( x _ { 1 } , x _ { 2 } \right) = \left( \alpha x _ { 1 } ^ { - \rho } + ( 1 - \alpha ) x _ { 2 } ^ { - \rho } \right) ^ { - 1 / \rho }

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Suppose our tastes can be represented by the function u(x1,x2)=(αx1ρ+(1α)x2ρ)1/ρu \left( x _ { 1 } , x _ { 2 } \right) = \left( \alpha x _ { 1 } ^ { - \rho } + ( 1 - \alpha ) x _ { 2 } ^ { - \rho } \right) ^ { - 1 / \rho } .It is often observed that people become more rigid --- more set in their ways --- as they get older.What parameter is changing as we get older --- and how is it changing? (Explain.)


Definitions:

Braxton-Hicks Contraction

Irregular, often painless contractions that occur during pregnancy as the uterus prepares for childbirth; sometimes referred to as "false labor."

Oxytocin

A hormone and neurotransmitter that plays a role in social bonding, reproduction, childbirth, and the period after childbirth.

Chromosomes

Thread-like structures located inside the nucleus of animal and plant cells, made of protein and a single molecule of DNA, which carry genetic information.

Genes

The basic unit of genetic information.

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