Working hard for money decreases consumers’ willingness to risk their earnings, study shows
Studies show that consumers believe people who work hard for their money have higher incomes, are more financially literate and are more comfortable taking on prudent financial risk. Similarly, national survey data used by policymakers to assess the relationship between effortful earning and financial risk-taking also shows a positive correlation between the two. While, at the population level this may be true, new research from the University of Notre Dame shows that the harder an individual ...
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