Myopia and time inconsistency are major stumbling blocks that behavioral economists have found in people's ability to make decisions that involve trade-offs between

A) importing and exporting.
B) work and leisure.
C) the private sector and the government.
D) the present and the future.

Myopia

A condition where individuals or organizations focus on short-term gains at the expense of long-term benefits, often leading to suboptimal decisions.

Time Inconsistency

The phenomenon where a person's preferences change over time, such that what is preferred in the future is inconsistent with what is preferred now, often leading to planning and decision-making challenges.

Behavioral Economists

Researchers who study the psychological, cognitive, emotional, cultural, and social factors that affect the economic decisions of individuals and institutions.