Working Paper

Rumination and Financial Decision Making among the Poor

Gita Venkataramani Johar, Rachel Meng, and Keith Wilcox

Oct 13, 2016

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Why do economically disadvantaged consumers make myopic financial decisions such as overborrowing and taking on harmful loans? This study points to “financial rumination” and tests two strategies for reducing ruminative thinking to improve financial decision making.

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