Question

What explanation might an economist provide why some people smoke cigarettessmoke cigarettes when such behavior can lead to health​ consequences? some people likely smoke cigarettessmoke cigarettes because

a. they undervalue the utility from current choices.
b. they overvalue the utility from current choicesthey overvalue the utility from current choices.
c. their preferences are consistent over timetheir preferences are consistent over time.
d. they overestimate the future costs of current choicesthey overestimate the future costs of current choices.
e. they overvalue the utility to be received in the future from not getting lung cancernot getting lung cancer. "some people likely smoke cigarettes because"?

Answer 1

What explanation might an economist provide why some people smoke cigarettes when such behavior can lead to health​ consequences?

Some people likely smoke cigarettes because they overvalue the utility from current choices. Although these people know they are smoking cigarettes which can lead to cancer, the benefits they feel they are receiving from them are valued higher than the consequences they may receive.