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(b) Consider an agent who has to choose how many donuts to eat. He exhibits the choices C({1, 2}) = {1, 2} and C({1, 2,

(b) Consider an agent who has to choose how many donuts to eat. He exhibits the choices

C({1, 2}) = {1, 2} and C({1, 2, 3}) = {2, 3}.

Can these choices be explained by (i) maximization of a completee and transitive preference? (ii) satisficing? (iii) regret aversion?

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