Question
Supposeyouareofferedslicesofcakeofdifferentsizes.Initially, youmightbeoffered slice 1, which is small, and slice 2, which is slightlylarger.Youmight think it is rude to take the largest slide, so you choose
Supposeyouareofferedslicesofcakeofdifferentsizes.Initially, youmightbeoffered slice 1, which is small, and slice 2, which is slightlylarger.Youmight think it is rude to take the largest slide, so you choose slice 1.However,your friend may then show you slice 3, which isevenbigger; perhaps then you will find it OK to accept slice 2, as it is no longer the largest slice onoffer"
Refer to the choices illustrated in the example above. Would you think it would be reasonable to make choices that appear to violate the weak axiom of revealed preference? Comment.
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