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of the company's borrowers would default on their loans at the same time. David stated that this was extraordinarily unlikely, so the firm should not worry about loaning to too many risky borrowers. A year later, mortgage default rates were at an all-time high. David's advice best exemplifies . c. Mandy was working at a Fortune 500 company earning $200,000 per year before she lost her job during a recession. The economy has largely recovered and she has received several job offers, but Mandy is still unemployed because she refuses to accept any job that pays her less than $200,000 per year. Mandy's behavior reflects . anchoring bias representativeness bias overconfidence loss aversion availability bias the focusing illusion

          of the company's borrowers would default on their loans at the same time. David stated that this was extraordinarily unlikely, so the firm should not worry about loaning to too many risky borrowers. A year later, mortgage default rates were at an all-time high.

David's advice best exemplifies .

c. Mandy was working at a Fortune 500 company earning $200,000 per year before she lost her job during a recession. The economy has largely recovered and she has received several job offers, but Mandy is still unemployed because she refuses to accept any job that pays her less than $200,000 per year.

Mandy's behavior reflects .
anchoring bias
representativeness bias
overconfidence
loss aversion
availability bias
the focusing illusion

of the company's borrowers would default on their loans at the same time. David stated that this was extraordinarily unlikely, so the firm should not worry about loaning to too many risky borrowers. A year later, mortgage default rates were at an all-time high.

David's advice best exemplifies .

c. Mandy was working at a Fortune 500 company earning 200,000 per year before she lost her job during a recession. The economy has largely recovered and she has received several job offers, but Mandy is still unemployed because she refuses to accept any job that pays her less than200,000 per year.

Mandy's behavior reflects .
anchoring bias
representativeness bias
overconfidence
loss aversion
availability bias
the focusing illusion

Added by Caroline T.

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