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Author Question: Cash payments are generally preferable to in-kind payments when the utility of the transfer ... (Read 35 times)

CharlieWard

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on: Jul 1, 2018
Cash payments are generally preferable to in-kind payments when the utility of the transfer recipient is the only criterion because _____.
 
  a. it is cheaper to distribute in-kind benefits
  b. cash is necessary for utility maximization
  c. recipients know their utility functions better than anyone else
   d. of diminishing marginal utility

Question 2

If decision makers have limited ability to calculate profits from all possible combinations of options, they are said to have
 
  A) dementia.
  B) bounded rationality.
  C) Pareto inefficiency.
  D) a maximin problem.


vseab

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Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

B


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