Erik wants to save more, but whenever a paycheck arrives, he ends up spending everything. One way

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Erik wants to save more, but whenever a paycheck arrives, he ends up spending everything. One way to help him overcome this tendency would be to:

a. Teach him about time inconsistency.

b. Tell him that self-control problems are common.

c. Have him engage in pre commitments that will make it difficult for his future self to overspend.

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Microeconomics Principles, Problems and Policies

ISBN: 978-1259450242

20th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn

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Question Posted: Apr 24, 2018 09:07 AM

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Erik wants to save more, but whenever a paycheck arrives, he ends up spending everything. One way

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c Have him engage in pre commitments that will make it difficult for his future sel...View the full answer

Microeconomics Principles, Problems and Policies

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