Why consumers make bad financial decisions, and how to help
In an ideal world, consumers are making investment and monetary decisions based on facts and thorough research of the markets, careful analysis and guidance from seasoned financial experts. This is not always the case. A working group of behavioral scientists including Abigail Sussman, associate professor of marketing at the University of Chicago Booth School of Business, show in a new paper that financial mistakes happen when consumers fail to examine all of their choices when making monetary decisions.
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