1.When discussing the "standard" model of a rational consumer, we said that a standard agent maximizes where p(s) are rational/Bayesian beliefs about probabilities of states of the world. (10 points total)

a.In this context, what does it mean if beliefs about the true probabilities of states of the world are "unbiased?"

Please give a real-world example of somebody exhibiting "biased" beliefs. (Think of a scenario where we could watch somebody's behavior and conclude that they are likely using "biased" beliefs. Make sure you are using the word "biased" in the same way we have discussed it in class.