Debiasing framework revolutionizes consumer financial decisions for rational investments.
Consumers often make financial decisions based on biases, which can lead to irrational choices. To help people make better decisions, researchers have looked at different ways to reduce these biases. They found that strategies like education, decision support systems, information, experience, and financial advice can all help in making more rational financial choices. By combining these strategies into a single model, researchers hope to create a framework that can be used to improve consumer financial decision-making in the future.