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Please help me to answers all economic questions, and make sure everything correct because I need high grade. Due US pacific time, 10/15
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hey here is the paper
Running head: ECONOMICS
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Economics
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ECONOMICS
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Economics
How Menu-dependent Information leads to violation of rejection
Menu-dependency occurs when the assessments of various alternatives for choices of
selection guiding choices vary with what several options are available for selections. Therefore,
Menu dependency faces a different violation of consistency constraints. The decision-maker has
to develop the ability to change the menu dependency informally through a series of preferences
and available alternatives to control the phenomenon. This may lead to orderly variations in
preference for thoughts and contingent on which another choice is clubbed with. This paper will
focus on ways in which menu dependency promotes violation of consistency, such as rejection.
There are a variety of ways in which human being use to value and weight money and
quality. Various researches explain how individuals combine money and quality to derive the
worth of a risky option such as us purchasing a low-quality tea at a high cost or vice versa.
Sometimes people develop different ways to value and weight money and probability. For
instance, individuals have a well-formed preference for money and possibility, and they know
how to combine different attributes for positive results (Ritesh, S. 2014). In gambling, such
choices in monetary gambles are expected to be equally stable. Furthermore, more individuals
can use the multiplicative procedures to develop the utility of a financial chance with some
adjustment of the risk. Inexperienced and untrained persons practice monetary gambling
differently by handling it like any other choice, which possesses an additive rule for deriving
their effectiveness.
Menu-dependent information leads to a violation of rejection in various ways. Firstly,
individuals may put quality into consideration when they are about to spend on a particular
commodity or service. It is correct to say that price can be the cause of rejection of a product like
ECONOMICS
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tea, marijuana, or any other merchandise involved. This is because human being makes choices
relative to what is on offer rather than basing on entire preferences. Such balanced choices
appear when people's preference for a specific option over other shifts as a result of additional
options. Besides, the occurrence of the inferior option may promote the value of a product hence
the event of rejection. Human characteristics are dictated by context as well as how choices are
presented t...
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