A Person Is Dynamically Inconsistent If

question 48

Multiple Choice

A person is dynamically inconsistent if

• A) Lapses in self-control never occur
• B) His preferences over the alternatives available at some future date do not change as the date approaches or once it arrives
• C) He does not always follow through on his plans and intentions
• D) All of these

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Definitions:

Long-Term Memory

The vast memory depository containing all of an individual’s knowledge and beliefs—including all those not in use at any given time.

Three-Stage Model

A framework in cognitive psychology that divides memory into three distinct stages: sensory memory, short-term memory, and long-term memory.

Long-Term Memory

The phase of the memory process that allows the storage of information over extended periods, potentially lifelong.

Recall

The cognitive process of retrieving past information or experiences from memory without the aid of explicit cues.