1. (a) Suppose your friend is choosing a college major, and tells you they would make the following choices: Economics from the menu {Economics,
1. (a) Suppose your friend is choosing a college major, and tells you they would make the following choices: Economics from the menu {Economics, Math, Computer Science} Computer Science from the menu {Math, Computer Science} Economics from the menu {Economics, Math, English, History, Neuroscience} Do these choices satisfy IIA? (b) Is there a utility function that would generate these choices? If so, write one down. If not, explain why not. (c) Suppose another friend tells you they would make the following choices: Math from the menu {Economics, Math, Computer Science} Computer Science from the menu {Math, Computer Science} History from the menu {Economics, Math, English, History, Neuroscience} Do these choices satisfy IIA? (d) Is there a utility function that would generate these choices? If so, write one down. If not, explain why not.
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Lets go through each part step by step to analyze the problem a Analysis of First Friends Choices Menu 1 Economics Math Computer Science Choice Economics Menu 2 Math Computer Science Choice Computer S...
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Authors: William J Stevenson, Mehran Hojati
4th Canadian edition
978-1259270154, 1259270157, 978-0071091428
