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Unformatted text preview: S , the agent looks at only the top two easiest-to-comprehend alternatives in S , and maximizes % over just these alternatives. Do this agent&s choices satisfy WARP? Provide a proof if yes& and a counterexample if no& .  3-Consider an agent who uses the following procedure to make de-cisions. When faced with a menu, he has a partial understanding of his preferences, and he rst attempts to make a choice using this partial under-standing. If he is unable to ascertain a choice like this, then he introspects and determines his full preference, and uses this to make a choice. (a) Model this agent. Indicate your primitives, assumptions and hypoth-esis clearly. You will lose marks for writing a story instead of presenting a formal model.  (b) Does your agent respect WARP? Provide a proof or counterexample.  1...
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This note was uploaded on 11/09/2010 for the course CAS ec399 taught by Professor Tack during the Spring '10 term at BCUC.
- Spring '10