Gradebook Assignment Information Available From: 10/8/2015 09:00 PM Due Date Poi
ID: 1192049 • Letter: G
Question
Gradebook Assignment Information Available From: 10/8/2015 09:00 PM Due Date Points Possible: 100 Grade Category: Graded HW Description Policies: 10/22/2015 07:00 PM A 63.8/100 [ ] Print Calculator Periodic Table Question 12 of 14 10/22/2015 07:00 PM Map sapling leaming Identify which principle applies to each scenario by placing the appropriate label next to each scenario Penalty Scheme - Fall 201 After spending hours researching his choices, Mark decides on a laptop that will cost him $799. As he walks into his local retailer, a salesman presents him a laptop with marginally better features at the same price. However, Mark would have to do further research to verify that the new alternative is in fact better. As a result, he decides the laptop he previously decided on is good enough and buys it You can check your answers You can view solutions after the due date You have four attempts per question Charlotte delivers food for Bojangles, a fried chicken restaurant. Upon delivering a meal to a household during a major icestorm, the family, feeling sorry about Charlotte working in extreme weather, decides to give her a $20 tip for a $10 delivery You lose 15% of the points available to each answer in your question for each incorrect att at that answer Cathy is a very good driver. In fact, she's never gotten into an accident in her life However, every year she still takes out a car insurance policy For multiple-choice questions, the penalty de on the number of choices available ieTextbook i Help With This Topic iWeb Help & Videos iTechnical Support and Bug Reports Risk Aversion Bounded RationalityFairness Previous O Check Answer Next Exit Y HintExplanation / Answer
(1) MARK: Bounded Rationality
Mark has taken his decision based on rational assumptions and pro-con analysis while purchasing a laptop, which is bounded by information limitation (since he does not have future information to decide at present).
(2) CHARLOTTE: Fairness
The customer gave her a tip to compensate for the additional troubles Charlotte took in ensuring proper delivery despite bad weather, which is a fair act.
(3) CATHY: Risk aversion
Even though Cathy is a good driver and never had accidents, she still buys car insurance to protect herself (and the car) from the unlikely chance of getting into an accident - she wants to avoid risk as much as possible.
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