Why consumers make bad financial decisions, and how simple policy changes can help

New paper examines the psychological reasons that consumers make financial blunders and offers institutional remedies to help change those behaviors

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. Think again.

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“Holier than thou” or less evil than you? The true nature of self-righteousness

We all have encountered people who seem “holier than thou” — those who believe they are morally superior to others; in fact, we may have felt morally superior ourselves at times. If so, you’re not alone – self-righteousness is widespread.

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Motivating with meaningless numbers

People work harder when they see their scores accelerate, even if the number makes no sense

Keeping score is a common method of motivation. But new research shows that even if the score itself has no inherent meaning, it can serve as an effective motivator, as long as the score is accelerating.

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Chicago Booth announces winners of 2017 Social New Venture Challenge

Provide takes home top prize and $60,000 in nationally ranked accelerator program finals

The Rustandy Center for Social Sector Innovation at the University of Chicago Booth School of Business is pleased to announce the winners of the John Edwardson, '72, Social New Venture Challenge (SNVC), the social impact track of the university’s nationally ranked Edward L. Kaplan, ’71, New Venture Challenge.

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