Traditional economic analysis explains why people are predictably irrational irrationally unpredictable predictably rational irrationally predictable

How can an anticipated change affect a market players decision?

Behavioral economics suggests that people are more likely to take risks when given choices that are framed in terms of ________ rather than _______. (Fill in both blanks, separated by a comma.)

Behavioral economics has been around for a while but it is experiencing a new resurgence. Note: ✓ Select an option True False er than the Save Answer button will NOT save any changes to your

1. The rules regarding economic decision maker behavior are: Group of answer choices A: Consumers behave rationally and maximize utility, but producers do not behave rationally B: Producers behave rationally and maximize profits, but consumers do not behave rationally C: consumers are ratiional and maximize utility, and producers are rational and maximize profits D: Consumers maximize total consumption, and producers maximize production

A researcher gave sports-card traders a sports card in exchange for their participation in thestudy. There were two possible cards, A and B. Each participant randomly received one ofthe two cards, and was then asked whether she would like to exchange it for the other card.a) By neoclassical (traditional economics) logic, approximately what percentage ofparticipants should exchange? Why? (Hint, the reason does not depend on whetherthe two cards are of equal value.)b) Among inexperienced traders, 6.8% make the exchange. Explain this phenomenon using prospect theory.c) Among experienced traders, 46.7% make the exchange. Why might experiencedtraders behave differently from inexperienced ones?

Suppose a hot-dog vendor asks your advice for improving the sales. Based on the lecture videos, provide two behavioral suggestions. For each suggestion, explain the behavioral bias that the suggestion is based on. Explain each suggestion in detail and the reasons why it could increase the sales.   Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.