An inability to accurately detect quality prior to or even after purchase distinguishes professional advice from other consumer goods or services. A consumer that is unable to assess the difference between an advisor's recommendation and the ideal recommendation is vulnerable to the self-serving...

Like any consumer product, mutual funds are not free, and the associated expenses impact performance. Expense ratios and loads are negatively related to performance (Carhart, 1997; Dellva & Olson, 1998). As such, financial planners ought to educate their clients about the importance of minimizing...

Inter vivos gifts result in lower net-of-tax transfer taxes than transfers at death. However, few individuals make taxable gifts, even if they are very likely to have a taxable estate. Using the 2007 administration of the Survey of Consumer Finances (SCF), we explore the role that financial...

Throughout their lifetimes, consumers use financial service professionals (FSPs) to achieve important financial goals and ensure financial wellbeing, often turning to FSPs as their levels of income and investable assets necessitate professional guidance. This study evaluates the impact of...

This paper presents an original economic model of the apartment rental market where service expenditures are invisible to prospective residents (but highly important to current residents), while recruiting expenditures are highly visible to prospective residents (but often inconsequential to...

Philanthropic decision-making is important both for its potential to provide insight into human behaviour and for its economic significance. In recent years, investigations of charitable-giving behaviour have expanded substantially, including explorations from a variety of disciplinary...

A variety of risk assessment questionnaires are used within the financial planning profession to assess client risk preferences. Evidence indicates that the average person overweighs losses relative to an arbitrary reference point. This paper evaluated risk assessment questions on how well they...

A variety of risk assessment questionnaires are used within the financial planning profession to assess client risk preferences. Evidence indicates that the average person overweighs losses relative to an arbitrary reference point. This paper evaluated risk assessment questions on how well they...