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When individuals choose from whatever alternatives available to them the one that maximizes their utility then it is always desirable that the government provide them with as many alternatives as possible. Individuals, however, do not always choose what is best for them and their mistakes may be...
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students. Authoritative, cutting edge, yet accessible, it guides the reader through theory and evidence, providing engaging and …5 Five theoretical approaches in behavioral economics -- 5.1 A case study of prospect theory -- 5.2 Human sociality and … and Uncertainty -- 1.1 Introduction -- 1.2 The elements of classical decision theory -- 1.2.1 Preference foundations of …
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