🔥The 9th Round of Easy Loan, Earn $40 Reward is in progress❗️ ⏰ Promotion Period: January 15th - Feburary 15th, 2025 👉 Register now and check more details at gate.io/campaigns/358

Experiments 2A & 2B highlight the importance of the context (e.g., inputs to a decision) and measures used to assess debiasing (e.g., learning a rule vs. accuracy). If we had only used naturalistic advice and accuracy measures, no debiasing effect would be observed. 5/5

Got the new lights for Zoom class. Separate lighting for the green screen makes a clean overlay!

FYI, this paper has anchoring, representativeness, and projection scales at the end. #OBHDP with Carey Morewedge and Irene Scopelliti sciencedirect.com/science/articl…

Watch and learn––new evidence that decision making can be improved by observing others' good and bad decisions. A short interview about our new research w/Haewon Yoon and Irene Scopelliti, here: insights.bu.edu/new-research-s…

For folks looking for psychometrically valid individual difference measures of anchoring, false consensus, and representativeness heuristic, we also report new scales measuring each of the three biases in the appendix of this new paper.

🚨 New paper! 🚨 Neural mechanisms of credit card spending In research with Derek Dunfield, Alex Huang, and Drazen Prelec, we use fMRI to study brain activity while people shopped with 💵 vs. 💳: nature.com/articles/s4159… We find some interesting results: a 🧵 1/n

A new study with w/Carey Morewedge & Yang Yang. Some frame college education as an investment opportunity (payscale.com/college-roi). We were interested in how this perspective would influence college choices if we push this idea to its extreme.

#studentloans are now the 2nd biggest source of consumer debt after mortgages, so many are telling students to treat #college as an investment. In a new JMR, we test how this approach leads students to weigh the costs and returns of #highereducation. journals.sagepub.com/doi/abs/10.117…

1/x. #Studentdebt is at an all time high, & students are advised to treat #highereducation as an investment decision. What happens when they do? We find tuition myopia can lead them to choose #colleges that lower lifetime earnings. New in Journal of Marketing Research. journals.sagepub.com/doi/10.1177/00…

2/x. With #studentloans, a rational comparison would compare discounted future cash flows (top) - projected income and loan repayments at graduation. We find students exhibit tuition myopia - they psychologically realize the tuition costs while they are enrolled (bottom).

3/x. When you ask students using loans when they will actually realize costs and benefits, they say they these losses and gains will be actually realized at graduation. When you ask them when they will FEEL the costs and benefit, they feel the costs earlier.

4/x. This leads the most impatient students to prefer lower cost-lower return colleges, even when that decision would substantially lower their lifetime earnings, in real and simulated choices.

Fortunately, the preference is malleable! Presenting options in terms of their costs and benefits to cash flow post graduation reduces preferences for lower cost-lower return colleges and increase preferences for higher cost-higher return colleges with higher lifetime earnings.

Imagine suddenly hearing your PhD advisor’s voice from a local radio station. Flooded with memories of weekly research meetings with Gretchen

When faced with the daunting #college costs, many students choose cheaper schools rather than taking out bigger student loans. A recent Journal of Marketing Research study shows how this may backfire: bit.ly/3E5S0aH #studentloandebt #studentloans Carey Morewedge Haewon Yoon

There is a new official account for all news and updates from #SJDM it’s SJDM - please help spread the word 🙏🏼 Carey Morewedge Gabriele Paolacci Ioannis Evangelidis Dan Schley Jonathan Berman Haewon Yoon @steer_rhinos @NinaMazar @alexoimas @sdpbht 🙏🏼