Drawing on relevant literature from a diverse range of academic disciplines we present a conceptual framework intended to further our understanding of perceptions and expectations of price changes and inflation. Based on this framework, we provide a detailed review of the literature and an...

Abstract: Financial capability requires understanding measures of consumer credit cost and using them appropriately in credit judgements and decisions. In three studies, UK adults’ understanding and use of credit cost and duration information were investigated from a bounded rationality...

A reversal of preference between compound and simple risks was demonstrated in the context of compound gambles with loss elements transparently in common. The role of predecision editing heuristics in this violation of the Invariance Principle was explored in a process-tracing study. Verbal...