Survey measures of consumer inflation expectations have an important shortcoming in that, while providing useful summary measures of the distribution of point forecasts across individuals, they contain no direct information about an individual’s uncertainty about future inflation. The latter...

To understand consumers' investment decisions, national surveys such as the Health and Retirement Study elicit consumers' expectations about stock market movements. Analyses of stock market expectations show substantial heterogeneity between consumers. It is commonly speculated that this...

To help consumers make informed decisions, regulators often impose disclosure requirements on financial institutions. However, disclosures may not be informative for consumers if they contain difficult-to-evaluate attributes, such as annual percentage rates (APRs). To improve a consumer's...

Maximizing is a decision strategy that seeks the very best option, which is more elaborate and potentially more regret-inducing than choosing an option that is ‘good enough.’ In surveys with a large national sample, we find that older adults are less likely than younger adults to self-report...

In this chapter, we report on three psychometric scaling studies, summarized in Table 1. In each study, participants rated a given set of hazards on a range of risk characteristics and indicated the degree of risk reduction and regulation they desired. Based on this data, we explore the...