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Differentiate Homo economius and Homo sapiens What is time-consistent? Are consumers time consistent? Give an example. Dan and Mary have been in a relationship for
Differentiate Homo economius and Homo sapiens
What is time-consistent? Are consumers time consistent? Give an example.
Dan and Mary have been in a relationship for more than 5 years. Both of them are tired of each
other. However, when asked about leaving Dan, Mary said that they couldn't just throw away 5 years
of staying together. Which bias has Dan and Mary fallen victim to? Explain.
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