Further, information could be used to suggest a point that is starting the idea or valuation procedure for borrowers, which will be known as “anchoring”

Which means that when borrowers are trying to get HCSTC, they must be expected to fill out the prior quantities of HCSTC which they borrowed and also the real quantities they repaid. This could subtly make these experiences the starting place of borrowers’ valuation process and a fundamental element of their constructed narrative, which will be the cornerstone of these credit choice. Despite recommendations that as an element of the “planning fallacy” issue, people have a tendency to discount past negative experiences (Buehler et al. 1997), it could be argued that reminding borrowers of previous experiences with an obvious causal link utilizing the present will allow it to be problematic for them to immediately discount the negative past. Studies have discovered that the propensity to neglect proof contradicting the favored solution, which in case of borrowing is always to state yes, are mitigated by simply making the data more salient (Koriat et al. 1980). Contine reading