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Duke Law and Economics Society.
Fifth Annual Triangle Law and Economics Conference.
John Payne.
Professor, Fuqua School of Business.
Studies have shown that disclosure and education almost never work to improve a financial consumer's decision-making. People are generally lazy, so smart defaults must be used to guide their use of disclosed information. For example, let's require consumers to consult two different brokers before obtaining a mortgage.
2. Has education or disclosure had positive effects on financial consumer decision-making?
1. What are the different areas of finance to which behavioral economics may be applied?
3. What would be an example of a regulation that may take into account behavioral data?
4. Has there a been an upward trend of "safe havens" in financial regulations?
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