According to behavioral economics, one major cause of self-control problems (such as strictly following through on "new year's resolutions") is

A) time inconsistency.
B) mental accounting.
C) anchoring.
D) framing.

Question

Paras Lalria · Accepted Answer

Final Answer : A, Explanation :  Time inconsistency refers to the idea that people may change their preferences over time, especially in ways that their future selves would not agree with. This concept is a major cause of self-control problems, such as difficulties in sticking to New Year's resolutions, because individuals may overvalue immediate rewards at the expense of long-term goals.

According to behavioral economics, one major cause of self-control problems (such as strictly following through on "new year's resolutions") is

A) time inconsistency.
B) mental accounting.
C) anchoring.
D) framing.

Definitions

Learning Objectives

Learning Objectives

Related questions

According to behavioral economics, one major cause of self-control problems (such as strictly following through on "new year's resolutions") isA) time inconsistency.B) mental accounting.C) anchoring.D) framing.

Definitions

Learning Objectives

Learning Objectives

Related questions

According to behavioral economics, one major cause of self-control problems (such as strictly following through on "new year's resolutions") is

A) time inconsistency.
B) mental accounting.
C) anchoring.
D) framing.