(Last Word) the BIT Helped Poor People in the Philippines

question 189

Multiple Choice

(Last Word) The BIT helped poor people in the Philippines increase their saving by offering "commitment" savings accounts that restricted withdrawals until certain dates or savings targets were reached. This is an example of

• A) a nudge.
• B) anchoring.
• C) mental accounting.
• D) endowment effects.

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Definitions:

Frustration

A feeling of irritation or distress experienced when one's needs, desires, or expectations are thwarted or unmet.

Learned Helplessness

A condition in which a person suffers from a sense of powerlessness, arising from a traumatic event or persistent failure to succeed.

Behavioral Disengagement

A coping strategy involving reduction of effort or withdrawal from a task or situation.

Catharsis

The method of discharging and therefore delivering relief from powerful or stifled emotions.