The authors show, with real and hypothetical payoffs, that consumers are willing to pay substantially less for a risky prospect when it is called a “lottery ticket,” “raffle,” “coin flip,” or “gamble” than when it is labeled a “gift certificate” or “voucher.”
We analyze the effectiveness of consumer financial regulation by considering the 2009 Credit Card Accountability Responsibility and Disclosure (CARD) Act in the United States.
According to new research, almost 40 percent of adults experience impoverishment by age 60. But while poverty’s reach is wide, it isn’t necessarily deep.
In Vittorio De Sica’s bleak, postwar Italian movie “The Bicycle Thief,” a man is humbled by a personal catastrophe involving a tiny amount of money: unemployed, he is given a chance at a job, but he is required to have a bike to travel to work sites.
The economic returns to education are well documented.
Reports of psychological experiments are journalistic favorites.
This paper examines the relationship between household wealth and self-control failure.
A new study reminds us that poverty is the giant backpack dragging down American students.
Higher income is associated with greater well-being, but do income gains and losses affect well-being differently?
Public policy makers encourage lenders to disclose loan cost information to enable borrowers to make more-informed debt repayment decisions.