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Indicate whether each of the following examples of behavior is consistent with the way the traditional economic framework suggests people should act, or whether it
Indicate whether each of the following examples of behavior is consistent with the way the traditional economic framework suggests people should act, or whether it is reserved for behavioral economists to examine. Behavior Consistent with Traditional Economic Model predictions Exclusive to Behavioral Economic theory Some people would turn down a new, higher-paying job if it meant spending less time with their family. Some people would be willing to make a large sacrifice in order to help a loved one. Some people would be willing to pay money to lower the incomes of others. Some people treat $70 they earn differently from $70 they win playing powerball
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