People Hate Losses and that Affects U.S. Budget Talks

Human beings dislike losses. In fact, they dislike losses a lot more than they like equivalent gains.

When Wanting is Better than Having: Materialism, Transformation Expectations, and Product-Evoked Emotions in the Purchase Process

Materialists believe that…

Late Credit Card Payments Low and Expected to Stay There

Credit card delinquencies are likely to remain low, even as riskier consumers open more card accounts, according to an annual forecast from TransUnion, a consumer credit reporting company.

Neuroscience Fiction

In the early nineteen-nineties, David Poeppel, then a graduate student at M.I.T. (and a classmate of mine)—discovered an astonishing thing.

Impact of Planning on Self-Regulation

Consumers often strive for goals that entail self-control…

Financial Literacy 101: Where to Begin

U.S. savers have some $10 trillion sitting in IRAs, 401(k)s and similar retirement plans. But how much do they really know about investing? When Americans are tested on their financial literacy, the results are troubling, at best.

Are Close Friends the Enemy? Online Social Networks, Self-Esteem, and Self-Control

Online social networks are having a fundamental and important influence on society.

35 Amazing Graphs That Show How Your Spending Habits Change With Age

It’s that time of year again when Americans spend like crazy for their loved ones and themselves.
But everyone’s needs and wants evolve dramatically with age.

Mapping Financial Literacy: Cognition and the Environment

Recent research suggests that regions can be characterised according to their (more or less) financial literacy. One implication is that there may be regional ecologies of finance nested within national institutions and global markets.

Move Over Economists: We Need a Council of Psychological Advisers

Though President Obama won reelection decisively, he won’t have much time to celebrate. Many of the nation’s problems — stimulating employment, reducing the deficit, controlling health-care costs, and improving the quality of education — are very serious, and some of them must be addressed with great urgency.