Question
You may remember that Bob Stevens retired last year. Well, this morning, I got a call from one of Bob's largest clients, who scheduled a
"You may remember that Bob Stevens retired last year. Well, this morning, I got a call from one of Bob's largest clients, who scheduled a meeting for 2:00 this afternoon to review his investment portfolio. When I pulled the information on his accounts, I discovered that we never reassigned the account to anyone new. Bob has done nothing with the money, so it has been sitting in our corporate account, earning 1.25% interest for the last six months. I'm assigning you as the new account exec, so I want you to meet with the client, but you have to understand that we can't afford to lose this client. To help you save the account, I've created a set of account statements that recreate some of the investment gains and losses several of our other customers had. If the client had been in this set of investments, his return would have been about 1.25%, but the client won't know we forgot about him. Those investments still have a lot of upside potential, so I think you could use them to keep this clientwe really can't afford to lose him." What would you tell your boss? Explain how 1) attribution, 2) scarce resources, 3) data perception biases, and 4) disaggregation of responsibility might influence people's reactions to the scenario presented above.
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