Why considering that it snows only once every ten years, Ask an Expert

Economics

"Whenever it is snowing when Joe Commuter gets up in the morning, he misjudges how long it will take him to drive to work. Otherwise, his expectations of the driving time are perfectly accurate. Considering that it snows only once every ten years where Joe lives, Joe's expectations are almost always perfectly accurate." Are Joe's expectations rational? Why or why not?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9223005

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