This paper was presented by Stephan Meier and Charles Sprenger at the Family Financial Security Symposium in April, 2010. If defaulting is a decision in which consumers weigh the present benefits of not having to repay their debts against the future costs of potentially being excluded from financial markets or stigmatized, individual time preferences should be a key … Continue reading Discounting and Defaulting: Evidence from Time Preference Experiments and Administrative Credit Data
Family Financial Security Symposium
Family Financial Security Symposium
Date: April 19 and 20, 2010 Description: The CFS convened researchers, practitioners and policymakers to explore challenges and opportunities in consumers’ financial literacy and stability. The event, “Family Financial Security: Implications for Policy and Practice,” introduced some of the most recent and cutting-edge studies that bring new insights into economic behavior. The symposium addressed three … Continue reading Family Financial Security Symposium
Designing disclosures to improve consumer financial decision making: Lessons learned from consumer testing
Jeanne M. Hogarth and Ellen A. Merry, from the Federal Reserve Board's Division of Consumer and Community Affairs, presented this paper at the Family Financial Security Symposium in April, 2010. Disclosure is a longstanding and important component of consumer protection in financial services markets. Research findings show the potential for improvements in consumer comprehension and usability of disclosures, while revealing … Continue reading Designing disclosures to improve consumer financial decision making: Lessons learned from consumer testing
University of Wisconsin-Madison Center for Financial Security 