Does your company have consumer data it isn’t legally authorized to possess? Don’t be too quick to answer. Many ethical, lawfully-managed businesses do have such data and it comes from a surprising source: their customers, who inadvertently share the personal data of their peers, such as...

We study the impact of social reference points (SRPs) on decisions under uncertainty. Participants in an online experiment observed the earnings of a matched peer, which was either a high or low amount of money (SRP condition). Subsequently, they made decisions under different degrees of...

Focusing illusion describes how, when making choices, people may put disproportionate attention on certain attributes of the options and hence, causing those options to be overvalued. For instance, in deciding whether or not to take out a loan, people may focus more on getting the loan than on...