When Theresa Martinez Relocated from British Columbia to Ontario, She

question 19

Multiple Choice

When Theresa Martinez relocated from British Columbia to Ontario, she needed to find a bank with offices in her new province. Several banks offered the banking products (checking and savings accounts, loans, certificates of deposit) and financial products (mutual funds, insurance) available from her former bank, and she selected The Royal Bank. Later Theresa was impressed by the availability and willingness of people (tellers, personal bankers) to help her when she had questions. In this case, The Royal Bank affected Theresa's evaluation of the purchase through its:

• A)characteristic properties.
• B)gap analysis.
• C)credibility properties.
• D)experience properties.

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Definitions:

Precommitments

Binding agreements made in advance to restrict future actions or decisions, often used in behavioral economics to help individuals stick to long-term goals.

Time Inconsistency

The tendency of a person or entity to change their planned course of action over time due to a change in preferences.

Self-Control Problems

Self-control problems refer to the difficulty individuals face in resisting short-term temptations in order to achieve long-term goals.