Drazen Prelec News Today

In a world where people must take on numerous financial responsibilities, saving money has become more critical than ever. Savings accounts are interest-bearing bank accounts where the frequency and...

One of the standard rules of wise financial management is to avoid credit card debt, mainly because you could get stuck in a cycle of paying high interest rates on purchases that you might not have...

After three years of lockdown caused by the pandemic, spending has started to come back to pre-pandemic levels.

The pandemic gave consumers an excuse to spend more to make up for lost time. Those who went overboard are trying to reverse course.

For years, banks and credit card companies have known customers tend to spend more money when buying with credit cards instead of cash. A new study by MIT Sloan School of Management Professor Drazen Prelec and University of Utah Professor Sachin Banker found that excess credit card... Read More... Dont Miss Any Updates! News Directly in Your Inbox Subscribe to:

Share: For years, banks and credit card companies have known customers tend to spend more money when buying with credit cards instead of cash. A new study by MIT Sloan School of Management Professor Drazen Prelec and University of Utah Professor Sachin Banker found that excess credit card spending is actually driven in part by chemical response inside the brain. What Happened? The new study suggests consumers overspend when using credit cards because credit cards “step on the gas” in the...

Updated Mar 15, 2021 | 07:00 IST The study conducted by the Massachusetts Institute of Technology has revealed that credit card purchases trigger the same reaction in the brain as cocaine does. iStock&nbsp | &nbspPhoto Credit:&nbspRepresentative Image Shopaholics or compulsive buyers around the world may have just one simple thing in common - the frequent use of credit cards at shopping malls and retail outlets. Many would say it is kind of an addiction for them that is ...

A study shows credit card spending triggers the same chemical reaction in the brain as addictive drugs such as cocaine. Researchers found credit cards step on the gas by putting costs out-of-mind.

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Those who dub themselves as shopaholics really could be addicted to using their credit cards, research has shown. The study conducted by the Massachusetts Institute of Technology found that credit card purchases trigger the same chemical reaction in the brain as cocaine does. Due to not having to immediately pay credit card bills, researchers found …