Phyllis is planning for her retirement in fifteen years.She knows that she can currently live reasonably well on $38,000 a year given that she is debt-free.Based on her family history she expects to die ten years after she retires.Thus,she computes her retirement need as $38,000 a year for 10 years.Which one of the following behaviors applies to Phyllis?
A) regret aversion
B) money illusion
C) self-attribution bias
D) endowment effect
E) myopic loss aversion
Correct Answer:
Verified
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