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According to behavioral economics, the difficulty among many people to sufficiently save for their retirement is partly explained by:

a. Myopia
b. Mental Accounting
c. Anchoring
d. Framing

Respuesta :

Answer:

Option (A) is the right answer.

Explanation:

According to behavioral economics, the following term can be described as:

  • Myopia: Myopia can be described as the behavior based on the decision taken for present only without taking any consideration of the future.
  • Mental Accounting: Mental accounting can be described as the behavior to classify between investment and spending.
  • Anchoring: Anchoring can be described as a behavior in which decisions mostly rely on the persons' emotions or what information first fed in the mind.
  • Framing: Framing can be described as a behavior in which a decision is made by checking the positive and negative aspects of any situation.

Hence according to the scenario, the most appropriate answer is option (A) because myopia shows the shortsightedness and takes the decision on the basis of present condition only.

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