Journal Article
Consumer decisionmaking: insights from behavioral economics
Abstract: The increased complexity of the financial markets has made it difficult for consumers to choose products that best serve their interests. Behavioral economists explore consumers' psychological process in making decisions, such as immediate gratification, overconfidence, inertia or a lack of cognitive ability to understand the costs and benefits of financial services.
Keywords: Consumer behavior; Financial literacy;
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Provider: Federal Reserve Bank of Dallas
Part of Series: Banking and Community Perspectives
Publication Date: 2010
Issue: 3