Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Ll Question 12 1 pts Now suppose you use the same table as above, but you are a quasi hyperbolic discounter. Your discount rate is
Ll Question 12 1 pts Now suppose you use the same table as above, but you are a quasi hyperbolic discounter. Your discount rate is now : L where t is the number of days in the future. Now what is your presented 1 -:* discounted utility of quitting smoking? For the remaining questions, assume you are a quasi-hyperbolic discounter. E Question 13 1 pts What is your discounted utility of quitting smoking 8 days from now (meaning on the 8th day from now you quit and on the 9th day you see the benets of quitting)? Question 14 1 pts What is your present discounted utility of not quitting 8 days from now? 2.94 D Question 10 1 pts Suppose you are considering quitting smoking. This will be hard. The first day of quitting smoking your utility will drop (and then it goes up in the future). Utility Today Utility Tomorrow Quit 5 10 Don't Quit 10 4 What is your present discounted utility of quitting smoking if you're daily discount rate is .8. 10.556 D Question 11 1 pts Likewise, what is your present discounted utility of not quitting? 12.22
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started