Indicate whether the statement is true or false, and justify your answer.If people demand a self-commitment device, it must be Pareto self-improving; otherwise it would not be demanded by utility-maximizing economic agents.

Indicate whether the statement is true or false, and justify your answer.If people demand a self-commitment device, it must be Pareto self-improving; otherwise it would not be demanded by utility-maximizing economic agents.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Indicate whether the statement is true or false, and justify your answer.
If people demand a self-commitment device, it must be Pareto self-improving; otherwise it would not be demanded by utility-maximizing economic agents.

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