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Can I get detailed explanations and answers? I just want to organize the steps thoroughly Q1. (Behavioral Distinctions) Observed behavior may be explained by multiple

Can I get detailed explanations and answers? I just want to organize the steps thoroughly

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Q1. (Behavioral Distinctions) Observed behavior may be explained by multiple models or may allow one to rule out some models. This question explores this. (a) 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 complete and transitive preference? (ii) satisficing? (iii) regret aversion? (b) Suppose that the donut-eating agent exhibits the following choices in- stead: C({1, 2}) = {1} and C({1, 2, 3}) = (2}. Can these choices be explained by (i) maximization of a complete and transitive preference? (ii) satisficing? (iii) motivated reasoning

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