Which of the Following Is NOT a Serious Problem for the Claim

question 5

Multiple Choice

Which of the following is NOT a serious problem for the claim that our decisions are consistently made in accordance with utility theory?

• A) People are heavily swayed by how a decision is phrased, even if the phrasing has no impact on utilities.
• B) The expected value of utility decreases if the likelihood of its outcome decreases.
• C) The same information, and thus utility value, can lead to different decision outcomes depending on how the question is asked.
• D) People often find it difficult to compare values that are seemingly incommensurable (e.g., the monetary value of a car vs. how much it pollutes the environment).

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Definitions:

Tender

An offer of payment or delivery of goods in fulfillment of an obligation or contract.

Buffalo, NY

A city in New York State, known for its snow-heavy winters and as the home of the Buffalo wings.

Agreed Carrier

A carrier organization that has been approved or designated by parties in an agreement to transport goods.

Deemed to Accept

An assumed or implicit acceptance of terms or conditions by conduct or by failing to object.