Phyllis is planning for her retirement in 15 years. She currently lives comfortably on $38,000 a year given that she is debt-free. Based on her family history she only expects to live 10 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 aversionB) Money illusionC) Self-attribution biasD) Endowment effectE) Myopic loss aversion
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Phyllis is planning for her retirement in 15 years. She currently lives comfortably on $38,000 a yea...
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