For the four questions below, write an essay (roughly 3 double space pages on each question) summarizing and backing up your answers, with plenty of citations. The paper will receive four grades overall on the following:
Clarity (easy for reader to follow and major points are easily identified);
Relevance (writer sticks to the question and focuses on the question);
Organization (each part of the answer helps the total answer);
Depth (the writer knows various things about the question);
Questions (roughly 3 double space pages on each question):
1) Describe what is meant by “rank dependent” EUT.
2) Describe loss aversion and how it might affect preference ranking.
3) Describe reference points and framing and how they might affect preference ranking.
4) Describe EUT and then describe some examples of “phenomena inconsistent with EUT”
Main Book used An Introduction To Behavioral Economics @2008 by Nick Wilkinson 1st. edition.
Other authors in Behavioral Economics are the following (See attachment for reference articles):
Daniel Kahneman, Jack L. Knetsch, Richard H. Thaler, Mancur Olson, Thomas Schelling, Cass Sunstein, George Akerlof, Dan Ariely