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Consider the value discounting curve in the graph below. The data illustrate the responses of two different people (Person J and Person Q ) to
Consider the value discounting curve in the graph below. The data illustrate the responses of two different people (Person J and Person Q ) to the value of $100 over time. You can assume that the value of anything at 'Day 0 ' is unchanged (e.g. the value of $60 for both people on Day 0 is 60 ). Using this graph, answer the following questions: a. Is $100 after 15 days worth more to Person J or to Person Q? b. Both people are given a choice to accept either $50 now, or $100 in 10 days. Who would select the $50 now rather than waiting for $100 ? c. Both people are given a choice to accept either $75 now, or $100 in 20 days. Who would select $75 now rather than waiting for $100 ? d. Which person would be considered more 'impulsive' on the basis of this graph
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