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VII Lecture

VII Lecture. Shaping effect. Wrap up of the previous lecture. Coherent arbitrariness of preferences is consistent with downward sloping demand curves. Anchoring effect determines a highly arbitrary foundational choice that restricts the range of future choices.

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357 views • 24 slides

VI Lecture

VI Lecture. Stable demand curves with arbitrary preferences. Wrap up of the previous lecture. Formal definition of preferences, utility and rationality. Behavioral foundation and empirical hypothesis of preferences exogeneity to choices.

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347 views • 21 slides

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VII Lecture

VI Lecture