Asked by Taran Thiara on Apr 25, 2024
Verified
One reason for selecting a section of microeconomics for which attendance is part of the grade (as opposed to one where it is not) is that it serves as a commitment device that will get you to attend class.
Commitment Device
A strategy or mechanism designed to help people stick to their long-term goals by limiting access to short-term temptations.
- Comprehend the role of behavioral economics in interpreting consumer preferences.
Verified Answer
MU
muhammed ulutasApr 28, 2024
Final Answer :
True
Explanation :
This is because a commitment device is a mechanism that helps individuals stick to a plan or a decision they have made, such as attending class, by imposing a cost or penalty for not following through, in this case, affecting their grade.
Learning Objectives
- Comprehend the role of behavioral economics in interpreting consumer preferences.
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